S&P revises Watches of Switzerland view to positive

S&P said it revised its outlook on Watches of Switzerland’s (WoS) holding company, Jewel UK Midco Ltd., to positive from stable and affirmed the B- ratings on the company and its existing debt instruments.

“The outlook revision reflects the Watches of Switzerland (WoS) group's positive trading momentum, as well as the progress made in integrating its new U.S. operations. In our opinion, these have meaningfully reduced the execution risks stemming from the group's ambitious expansion plans,” S&P said in a news release.

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