S&P might lift Vince Intermediate

S&P said it placed the ratings, including the CCC- corporate credit rating, on Vince Intermediate Holding LLC on CreditWatch with positive implications.

“The CreditWatch placement follows Vince's announcement that it has received a rights offering commitment letter from its majority shareholder, Sun Capital Partners V LP,” S&P credit analyst Mariola Borysiak said in a news release.

The commitment indicates that the company will receive $30 million cash proceeds in the event it exercises the offering of its common stock to its shareholders, the agency explained.

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