S&P Global Upgrades Wolverine Outlook
The rating agency raised WWW's outlook to be stable from negative and affirmed its B+ issuer credit rating, as it expects improving operating performance and deleveraging in the next 12 months and forecasts adjusted leverage to improve to the mid-to-high 4x area by the end of the year. In Q4, Active Group sales slipped 3%, with Merrell up 1% and Saucony improving 7%, excluding China sales lost when the JV there was sold to Xtep. Adjusted EBITDA margin increased 500 ... Log in to view full article.
