Form NT 10-Q AMERICAN APPAREL, INC For: Jun 30

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American Apparel (APP) Downgraded to 'Caa3' by Moody's

August 12, 2015 5:19 PM EDT

Moody's Investors Service downgraded ratings of American Apparel (NYSE: APP) ("American Apparel"), including the Corporate Family rating, which was downgraded to Caa3 from Caa2, and left the ratings on review for further downgrade.

Issuer: American Apparel, Inc.

Downgrades:

.... Probability of Default Rating, Downgraded to Caa3-PD from Caa2-PD; Placed Under Review for further Downgrade

.... Corporate Family Rating, Downgraded to Caa3 from Caa2; Placed Under Review for further Downgrade

....Senior Secured Regular Bond/Debenture, Downgraded to Caa3(LGD3) from Caa2(LGD3); Placed Under Review for further Downgrade

Outlook... More

American Apparel (APP) to Delay 10-Q; Will Evaluate Alternatives

August 11, 2015 5:31 PM EDT

American Apparel (NYSE: APP) has determined that it is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2015 (the "Q2 2015 Form 10-Q") within the prescribed time period without unreasonable effort or expense for the reasons described below:

During the preparation and review of its interim financial statements for the fiscal quarter ended June 30, 2015, the Company identified potential non-compliance with its covenants for certain minimum financial ratios contained in its asset-backed revolving credit facility with Capital One Business Credit Corp. ("Capital One" and such facility, the "Capital One... More