Moody's revises L Brands view to positive

Moody’s Investors Service said it changed the outlook for L Brands, Inc. to positive from negative and affirmed the company’s ratings, including its B2 corporate family rating, senior unsecured guaranteed notes at B2 and senior unsecured unguaranteed notes at Caa1.

“The positive outlook reflects the outsized performance of Bath and Body Works, which has benefitted from significant tailwinds from a change in consumer spending caused by Covid-19 as well as the recent improvement in operations at Victoria's Secret, both of which Moody's expects to be sustained. The positive outlook also reflects Moody's expectation that the company will continue to reduce debt,” the agency said in a press release.

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