The rating agency called Under Dog’s weak FY 2025 outlook credit negative but said that has no immediate impact on its Ba2 rating or its stable outlook due to this being a transitional year. It projects a gradual recovery in FY 2026, resulting in a modest credit improvement. Under Armour’s guidance called for a low-double-digit revenue decline and a 55% drop in operating income due to a highly promotional environment and weak wholesale orders and a strategic business reset which will ... Log in to view full article.