Moody’s changes Burberry view

Moody's Investors Service said it affirmed the Baa2 long term issuer rating of Burberry Group plc and the Baa2 rating of its £300 million guaranteed senior unsecured notes due 2025.

The outlook was changed to positive from stable.

"The change to a positive outlook from stable reflects our view that over the next 12 to 18 months Burberry is likely to sustain both positive trading momentum and the solid credit metrics that have been a feature since we initiated our coverage during the height of the coronavirus pandemic two years ago," David Beadle, a Moody's vice president, senior credit officer and lead analyst for Burberry, said in a news release.

"However, short-term upward rating pressure is tempered by headwinds this year in the important Chinese market as well as the increasingly uncertain macro-economic environment.

“In addition, we will also need to see whether new senior management brings with it any material change in either strategy or financial policies.”

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