S&P ups Men's Wearhouse

S&P said it boosted all its ratings for Men's Wearhouse LLC, including the issuer rating to B- from CCC+.

“Better-than-expected performance and debt paydown leading to a sustainable capital structure support our upgrade. Our opinion is supported by, in part, better-than-expected performance metrics over the past 12 months. For example, sales for the trailing 12 months through July 2022 increased 65% and S&P Global Ratings-adjusted EBITDA swung to a positive $578 million compared with a $22 million loss last year,” the agency said in a press release.

S&P said it forecasts Men’s Wearhouse to generate sales of more than $2.6 billion and S&P Global-adjusted EBITDA of about $500 million over the next 12 months.

The outlook is positive.

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