Moody's lifts Oxford senior debt to B1

Moody's Investors Service said it raised Oxford Industries' corporate family rating to Ba3 from B1 and the senior unsecured debt rating to B1 from B2 following the sale of its women's private label business to Li & Fung Group, a Hong Kong based trading company, for about $65 million.

The outlook is stable.

Moody's said the upgrade reflects Oxford's well known and expanding portfolio of owned and licensed brands, its growth in "lifestyle" brands - Tommy Bahama and Ben Sherman - as well as the performance of the private label menswear business.

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