S&P: Oxford Industries outlook stable

Standard & Poor's said it revised its outlook on Oxford Industries Inc. to stable from negative and affirmed its corporate credit rating at BB- and its senior secured notes due 2015 at BB- with a recovery rating of 3.

The agency said the outlook revision reflects strengthened credit measures due to some debt reduction and profit recovery over the past year.

The ratings on Oxford reflect the apparel company's vulnerability to economic cycles, fashion risk, participation in highly competitive and fragmented markets and S&P's expectation that the company will make more branded acquisitions in the intermediate term, the agency said.

Oxford benefits from its varied portfolio of branded and private-label products and diverse distribution channels, S&P added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.