According to Moody's, Belk has missed their term loan payment and their rating has been downgraded to LD. Payment will be made after bankruptcy is completed. Outlook remains negative.
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Protocol for bankruptcy filing? Formality in due process? If the payment were made, thinking Belk would not be able to follow through with necessary process. Not alarming at all.
LD = Limited Default
Belk is now like the customer base it attracts, low budget and can’t pay their bills.