Moody's assigns Ba3 CFR to Fossil Group, Inc.
Rating Action: Moody's assigns Ba3 CFR to Fossil Group, Inc.. Global Credit Research- 19 Sep 2019. New York, September 19, 2019-- Moody's Investors Service today assigned ratings to Fossil Group, Inc., including a Ba3 corporate family rating; Ba3-PD probability of default rating and a Ba3 rating on its proposed $200 million senior secured term loan.Fossil 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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