Moody’s gives Ba3 to Fossil loan

Moody’s Investors Service said it assigned a Ba3 rating to Fossil Group, Inc.’s proposed $200 million senior secured term loan.

Proceeds along with a combination of cash and/or revolver borrowing, will be used to refinance the company’s unrated senior secured term loan due Dec. 31, 2020.

Moody’s also assigned Fossil a Ba3 corporate family rating and a Ba3-PD probability of default rating.

The outlook is stable.

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