Moody's upgrades Elizabeth Arden

Moody's Investors Service said it raised the long-term debt ratings of Elizabeth Arden by one notch, including the senior implied rating to Ba3 from B1, the senior unsecured issuer rating to B1 from B2, and the $225 million 7.75% senior subordinated notes due 2014 to B2 from B3. Moody's also affirmed the company's SGL-2 speculative grade liquidity rating.

The outlook is stable.

Moody's said the ratings upgrade reflects Moody's assessment that the company's improved cash flow and credit metrics are now at a level that provides sufficient cushion relative to the potential earnings volatility inherent in its business. The company's enhanced cash flow profile had been a key consideration in raising the company's SGL rating and placing the long-term ratings under review in October.

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