Moody's stabilizes Tory Burch outlook

Moody's Investors Service said it changed the outlook for Tory Burch to stable from positive.

“The change in outlook to stable from positive reflects the recent declines in operating performance and Moody's expectation that credit metrics are unlikely to improve over the next 12-18 months as previously expected due to inflationary pressures, a potential slowdown in demand and increased promotional activity in the sector,” the agency said in a press release.

Concurrently, Moody's affirmed the company's Ba3 corporate family rating, Ba3-PD probability of default rating and Ba2 senior secured bank credit facility rating.

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