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Despite the potential benefits, it downgraded Nine West two days later. Out of the blue, if I just told you theres a high-yield company with a leverage of 18 times, thats unsustainable, Moodys analyst Mike Zuccaro said in an interview. Its a positive transaction, because youre bringing in a stronger business, some cash flow and additional liquidity improvement. But its just not enough. Michael Freitag, a spokesman for New York-based Nine West and Sycamore Partners LLC, its private-equity owner, declined to comment. Kasper and Nine West were separate portfolio companies of Sycamore, according to the statement, which said the combination would be completed this month. Turnaround Effort Nine West is seeking to reverse a sales slump and rework about $1.5 billion of debt following Sycamores 2014 buyout. Kasper, also based in New York, would add a line of affordable suits, dresses and sportswear รองเท้าแฟชั่น สวย ๆ to Nine West, whose brand has lost some cachet in womens shoes and handbags. But apparel retailers also have been struggling as shoppers shifted their spending toward experiences. Its no game-changer at all, S&P Global Ratings analyst Jerry Phelan said, referring to the Kasper purchase.

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