S&P cuts Jones Group view

Standard & Poor's said it affirmed its BB- corporate credit rating on Jones Group Inc. and revised the outlook to negative from stable.

S&P also affirmed its B+ rating on all of the company's senior unsecured debt. The recovery ratings remain unchanged at 5, indicating an expectation for modest (10%-30%) recovery for noteholders in the event of a payment default.

"The outlook revision reflects our view that the company's key credit protection measures have weakened as a result of continued tepid operating performance, and that continued underperformance and failure to improve metrics over the next year could lead to a downgrade," said S&P credit analyst Linda Phelps in a news release.

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