Moody’s Downgrades Under Armour Debt
The ratings agency downgraded Under Dog’s senior unsecured rating to Ba1, the highest so-called “junk” rating, from Baa3, the lowest investment grade rating, citing the company’s ongoing challenges in North America. Moody’s also gave Under Armour a Ba1 corporate family rating, a Ba1-PD probability of default rating and a speculative grade liquidity rating of SGL-1. The outlook, which had been negative, was changed to under review, and the debt was also placed under ... Log in to view full article.
