Moody's lifts Oxford, notes

Moody's Investors Service said it upgraded the corporate family rating, probability of default rating and $105 million senior secured notes rating of Oxford Industries, Inc. to Ba3 from B1.

The agency said the speculative grade liquidity rating was changed to SGL-2 from SGL-1. The outlook is stable.

Moody's said the upgrade recognizes Oxford's success in growing its earnings and reducing its financial leverage. The ratings also reflect Moody's expectations that the company should be able to sustain moderate leverage, double-digit EBITA margins and good liquidity, the agency said.

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