Moody's upgrades G-III Apparel's secured term loan to Ba3; Ba3 CFR affirmed
Moody's Investors Service ("Moody's") has today upgraded G-III Apparel Group, Ltd.'s ("G-III") Senior Secured Term Loan to Ba3 from B1, and its Speculative Grade Liquidity rating to SGL-2 from SGL-3. At the same time, Moody's affirmed the company's Ba3 Corporate Family Rating...G-III Apparel Group designs, sources and markets a range of apparel, including outerwear, dresses, sportswear, swimwear, women's suits and women's performance wear, women's handbags, footwear, small leather goods, cold weather accessories and luggage. The company has two segments: wholesale operations, which includes sales of products under brands licensed by the company from third parties and sales of products under its own brands and private label brands, and sales related to the Vilebrequin business; and retail operations, which consists of the company's Wilsons Leather, G.H. Bass and DKNY stores operated as outlet stores, and a limited number of Calvin Klein Performance and Karl Lagerfeld Paris stores.
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