Moody’s Reviews Caleres on Vionic Acquisition
The ratings agency lowered CAL’s speculative-grade liquidity rating to SGL-3 from SGL-1, citing reduced availability of the company’s $600 million asset-backed revolver which it used to finance the $360 million acquisition of Vionic. Moody’s affirmed the Caleres’ Ba2 corporate family rating, Ba2-PD probability of default rating, Ba3 senior unsecured notes, and stable outlook. ... Log in to view full article.