Moody’s Upgrades Caleres on Revolver Extension
The ratings agency raised CAL’s speculative grade liquidity rating to SGL-2 from SGL-3, citing the maturity extension of its asset based revolving credit facility to Jan. 2024 from Dec. 2019. The new ABL does have a capacity of $500 million, down from $600 million previously. Moody’s is most concerned about the rate at which Caleres ... Log in to view full article.
