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Moody’s upgrades Cole Haan
Moody's Investors Service said it upgraded Calceus Acquisition, Inc.'s (Cole Haan) corporate family rating to B3 from Caa1, probability of default rating to B3-PD from Caa1-PD, and senior secured term loan rating to B3 from Caa1.
The outlook remains stable.
“The upgrade reflects the significant improvement in operating performance and credit metrics in FY 2022,” the agency said in a news release.
“Moody's adjusted debt/EBITDA and EBITA/interest for the LTM period ended Q1'23 is expected to be approximately 5x and 1.1x, respectively.”
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