Moody's gives Ralph Lauren notes A3

Moody's Investors Service said it assigned an A3 rating to Ralph Lauren Corp.'s $300 million senior unsecured notes due 2018 offering.

The outlook remains positive.

The net proceeds of the offering are intended to repay at maturity the €209.2 million aggregate principal amount of Ralph Lauren's 4.5% notes due Oct. 4, 2013 and for general corporate purposes.

Moody's said Ralph Lauren's A3 rating reflects the company's ownership of the Ralph Lauren family of brands, collectively one of the most recognized global apparel brands. The rating also reflects the company long-term successful track record of growing this brand into new product categories and geographies, evidenced by operating margins that compare favorably to most consumer goods companies, the agency said.

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