Moody's may upgrade Oxford Industries

Moody's Investors Service said it placed Oxford Industries Inc.'s B1 corporate family rating and B2 senior unsecured debt rating on review for possible upgrade following the announcement of the sale of the womenswear division to Li & Fung Group of Hong Kong for about $67 million. The transaction is expected to close in early June.

The agency said the review will focus on the impact of the transaction on Oxford's diversification, its strategic transformation to a branded apparel business and the company's operating metrics and leverage.

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