Fossil Group, Inc.: Update following proposed refinancing; assignment of Ba3 CFR
Our credit view of Fossil, reflecting a balance between moderate leverage and very good liquidity with continued uncertainty around the depth and duration of traditional watch sales declinesFossil Group is a design, marketing and distribution company that focuses on consumer fashion accessories. The company's principal offerings include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts and sunglasses. The company's products are distributed through various distribution channels, including wholesale in countries where the company has a physical presence, direct to the consumer through the company's retail stores and commercial websites and through third-party distributors in countries where the company does not maintain a physical presence. The company's reportable operating segments are comprised of Americas, Europe, and Asia.
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