Moody's alters Isabel Marant view to positive

Moody's Investors Service said it changed the outlook of IM Group SAS (Isabel Marant) to positive from negative.

"The change of outlook to positive reflects Isabel Marant's good operational execution during the coronavirus pandemic, and our expectation that its credit metrics will strongly improve in 2021" says Guillaume Leglise, a Moody's assistant vice president and lead analyst for Isabel Marant, in a press release.

"Despite continued challenging trading conditions in 2021, notably in Europe, we expect the company's earnings to recover significantly over the next 18 months, reflecting the sales contribution from new stores opened in the last 12 months and solid wholesale orders to date," added Leglise.

Concurrently, Moody's affirmed the company's B3 corporate family rating, its B2-PD probability of default rating and the B3 backed senior secured notes due 2025.

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