Moody’s upgrades Ralph Lauren to A2

Moody's Investors Service said it upgraded Ralph Lauren Corp.’s senior unsecured rating to A2 and commercial paper rating for the company's recently expanded $500 million program to Prime-1.

The outlook is stable.

The action concludes the review for upgrade initiated on June 16.

"The upgrade reflects the reduction in adjusted debt due to changes in Moody's approach for capitalizing operating leases," Moody's vice president Scott Tuhy said in a news release.

"The upgrade considers that notwithstanding expected pressure on results in the near term from the strengthening USD we expect Ralph Lauren will continue to enjoy industry leading performance. We also expect the company to maintain its conservative financial policies."

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