Moody’s affirms Outerstuff

Moody's Investors Service said it affirmed Outerstuff LLC's debt ratings, including its B1 corporate family rating, B1-PD probability of default rating and the B2 rating on its senior secured first-lien term loan due 2021.

The outlook is stable.

"The affirmation reflects our expectation that Outerstuff's credit profile will significantly improve over the very near term as new license businesses, such as with Nike and the NBA and Umbro and Target, continue to ramp up," Moody's apparel analyst Mike Zuccaro said in a news release.

"We also expect that the company will successfully extend the maturities its ABL revolving credit and factoring agreements due in June 2019."

© 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.