Wolverine Worldwide Downgraded by Moody’s
The ratings agency lowered WWW’s corporate family rating to Ba2 from Ba1, and also dropped its other ratings on the company by one notch, while revising its outlook to stable from negative. Incremental debt from last year’s acquisition of Sweaty Betty sent Wolverine’s debt/EBITDA ratio up to 5.0x, and Moody’s is concerned that macroeconomic headwinds will ... Log in to view full article.
