BoF Daily Newsletter: BoF Daily Digest | Booming Brazil, Barney’s credit rating, Graduate Fashion Week winners, Cinema and couture, Prabal’s past

BoF Daily Digest | Booming Brazil, Barney’s credit rating, Graduate Fashion Week winners, Cinema and couture, Prabal’s past Posted: 11 Jun 2010 04:46 AM PDT Iodice at Sao Paulo Fashion Week | Source: SPFW Brazil’s prosperity bursts forth on catwalk (AFP) “Brazil kicked off Latin America’s premier fashion event, Sao Paulo Fashion Week, Wednesday, with parades showcasing its economic prosperity and optimism.” S&P removes upscale Barney's from CreditWatch (Business Week) “Standard & Poor’s on Thursday affirmed its corporate credit rating on Barney’s New York and removed it from CreditWatch…The rating agency also lowered its issue-level rating to ‘CCC-’ from ‘CCC’ and revised its recovery rating to ‘5′ from ‘3′, saying the company’s value has diminished over the past few years.” Model students rewarded at Graduate fashion week gala (Guardian) “Rebecca Thomson, a 22-year-old graduate of the Manchester School of Art, claimed top prize in the gala show at Graduate fashion week last night for a collection that mixed hand-pleated details with jogging bottoms – a look the designer dubbed ‘casual couture’” Why fashion on screen lacks style (Independent) “As a film on Isabella Blow is planned, Geoffrey Macnab argues that haute couture and cinema are more likely to clash than complement.” Designer from Nepal who cracked New York (AFP) “The young Nepalese fashion designer Prabal Gurung has been courted by the world’s top style magazines and won plaudits for his creations from some of Hollywood’s best-known actresses.But it was not until Michelle Obama attended a function wearing a dress he designed that his parents, who live in the Nepalese capital Kathmandu, finally believed he had made it.”