Moody's assigns Burberry, notes Baa2

Moody's Investors Service said it assigned a first-time Baa2 long-term issuer rating to Burberry Group plc and a Baa2 rating to its planned benchmark sized senior unsecured notes.

"Burberry's Baa2 ratings reflect the global high awareness of its brand, balanced geographic diversification, and conservative financial policies," said David Beadle, a Moody's vice president, senior credit officer and lead analyst for Burberry, in a press release.

"Although the coronavirus pandemic has substantially dented the group's trading and profits in the current fiscal year, Burberry's solid competitive position in China will enable the group to keep growing strongly there, mitigating continued weakness elsewhere and allowing the group to return to stronger credit metrics over the next 12 to 18 months," he added.

The outlook is stable.

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