Moody's ups Warnaco outlook to positive

Moody's Investors Service said it revised Warnaco Group, Inc.'s outlook to positive from stable.

At the same time, Moody's said it affirmed Warnaco's existing ratings, including the corporate family and probability of default ratings, at Ba2.

According to the agency, the revision in Warnaco's outlook to positive reflects the company's continued improvement in financial metrics and its maintenance of consistent operating performance in the midst of the very challenging economic environment.

"Warnaco has continued its successful expansion overseas while maintaining positive same store sales in its direct-to-consumer business and increased overall revenues on a constant currency basis in the first half of 2009," stated Moody's senior analyst Scott Tuhy.

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