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Farfetch sees credit rating downgraded amid cash troubles

Moody's Investors Service has downgraded Farfetch citing governance concerns after the luxury platform announced it would not release Q3 2023 results and that previous forecasts should not be relied upon. The rating considers the decline in Farfetch's share price, impacting its access to capital markets, and soft demand in the luxury clothing...

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Management

Moody's: British retailers, beware of fellow European brands

Rating firm Moody's has warned that British retailers will be surpassed by their European peers in 2018 as slowing wage growth and a return of inflation dent disposable incomes. In this report, accessed by ‘The Daily Telegraph’ Moody’s expects brands such as Next and Marks & Spencer to suffer from “anaemic growth or even a contraction of...

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Business

Charlotte Russe receives a downgrade rating from Moody's

San Francisco-based company Charlotte Russe recently got a downgrade for its loans. The fashion retailer was downgraded from Moody’s, an investors service known for company research and investing information. Charlotte Russe’s senior secured loans that were due 2019 were downgraded by the investors company from B2 to B3. Moody’s has a large...