Outerstuff Sees Moody’s Change Outlook to Negative
The ratings agency affirmed Outerstuff’s Caa2 corporate family and Caa3 debt ratings, but changed its outlook on the league licensed kids’ apparel company to negative from positive. Outerstuff has debt maturing in 2023, Moody’s said, and it expects supply chain challenges and inflation to weaken an expected recovery in 2022. As of the end of 2021, Outerstuff had an adjusted debt/EBITDA ration of 20x on annual revenue that is “less than $330 million”, ... Log in to view full article.