Moody’s ups Cole Haan

Moody’s Investors Service said it raised its ratings for Calceus Acquisition, Inc. (Cole Haan), including the corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD, and senior secured term loan rating to B1 from B2.

“The upgrade reflects Cole Haan’s improvement in credit metrics and liquidity, driven by the company’s strong operating performance, including an over 50% increase in earnings over the past year. The upgrade also reflects Moody’s expectation that these improvements will be sustained over the next 12-18 months, supported by growth in digital sales, investments in customer relationship management, continued good merchandising, marketing execution and new product roll-outs,” said Moody’s in a news release.

The outlook is stable.

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