Moody's elevates J.Jill

Moody's said it upgraded its ratings for Jill Acquisition LLC (J.Jill), including the company’s corporate family rating and probability of default rating, to B1 from B2 and to B1-PD from B2-PD, respectively.

Moody's also upgraded the company's $290 million principal amount senior secured term loan due 2022 to B1 from B2.

In addition, Moody's said it assigned the company an SGL-2 speculative grade liquidity rating. The ratings outlook is stable.

“J.Jill has exemplified its operational resilience by successfully maintaining a moderate leverage profile, healthy interest coverage, and good liquidity highlighted by solid free cash flow generation over the last year,” said Brian Silver, Moody's lead analyst for the company, in a news release.

“This is notwithstanding the considerable margin pressure brought about by inventory challenges, which we believe are now largely behind the company and lends support to our expectation that operating performance will continue to improve over time.”

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