Moody's ups Nike

Moody's Investors Service said it upgraded the senior unsecured rating of Nike, Inc. to A1 from A2, concluding the ratings review initiated on March 4.

At the same time, Moody's said it affirmed the Prime-1 rating of the company's $1.0 billion commercial paper program.

The outlook is stable.

"The rating upgrade reflects Nike's continued growth, across product lines and geographies, while maintaining gross and operating margins", said Moody's vice president Scott Tuhy.

The upgrade also indicates Moody's expectations that Nike will maintain credit metrics and financial policies in line with the A1 rating.

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