Moody’s revises Lifetime view to stable

Moody’s Investors Service said it changed the outlook for Lifetime Brands Inc. to stable from negative and affirmed the B2 corporate family rating, the B2-PD probability of default rating and the senior secured term loan rating at B3. The agency also upgraded the company's speculative grade liquidity rating to SGL-2 from SGL-3.

"Today ratings and outlook actions reflect Lifetime Brands' strong operating performance year-to-date, resulting in a meaningful improvement in financial leverage and free cash flow generation," said Oliver Alcantara, Moody's lead analyst for the company, in a press release.

"Our expectation for good consumer demand for the company's kitchenware and home goods to continue at least through the first half of 2021 because home meal consumption remains elevated during the coronavirus pandemic,” added Alcantara.

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