TEXT-S&P affirms Jo-Ann Stores ratings, outlook now stable

Overview
-- U.S. fabrics and crafts retailer Jo-Ann Stores Inc.'s indirect parent,
Jo-Ann Stores Holdings Inc. (Holdings) is issuing $325 million of senior
unsecured PIK notes to finance a dividend to equity holder Leonard Green &
Partners.
-- We are assigning a 'B' corporate credit rating to Holdings and a
'CCC+' issue-level rating to the proposed notes.
-- We are affirming our ratings on Jo-Ann Stores, including the 'B'
corporate credit rating, and revising the outlook to s

new homes hertfordshire masters degree in real estate development it development companies