Moody's may cut Oxford

Moody's Investors Service said it placed all ratings for Oxford Industries under review for possible downgrade.

The review for possible downgrade reflects Moody's concerns regarding very limited perceived cushion in the company's financial covenants governed within its bank credit agreement, which steps down in the next quarter.

Moody's said its review will focus on the company's ability to address tightening financial covenants.

In addition, Moody's said it review will assess the company's ability to stabilize operating performance, after weaker year-over-year results during the recent transition period, despite expectations the retail environment will remain challenging.

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