-- U.S. children apparel retailer Gymboree's profitability gains will be
limited despite easing cotton prices, and we expect debt leverage to remain
above 7x in the next 12 months.
-- We are lowering the company's ratings, including the corporate credit
rating to 'B-' from 'B'.
-- The ratings outlook is stable based on adequate liquidity and modest
improvement in operating margins.
Rating Action
On Nov. 9, 2012, Standard & Poor's Ratings Services lowered its corp
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