Moody’s boosts Canada Goose

Moody's Investors Service said it upgraded Canada Goose Inc.'s corporate family rating to Ba3 from B1, its probability of default rating to Ba3-PD from B1-PD and its senior secured first-lien term loan B rating to B1 from B2.

The agency, however, lowered the company's speculative grade liquidity rating to SGL-2 (good) from SGL-1 (very good).

"The upgrade reflects Canada Goose's resilient operating performance and strong brand recognition that has kept credit metrics conservative over the past two years," said Dion Bate, a Moody's analyst, in a press release. "We expect revenue and EBITDA growth to benefit from a modest demand recovery in mainland China and growth from its high margin direct-to-consumer (DTC) channel as Canada Goose expands its store footprint and broadens its product categories."

The outlook is stable.

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