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Article Date: February 2023
Word Count: 186

Hanesbrands Gets Ratings Agency Downgrades


Both Moody’s and S&P Global dinged HBI following its weak Q4 results reported last week, despite the announcement that it was suspending its dividend, a move that ratings agencies normally applaud. Moody’s lowered its corporate family rating on Hanesbrands to Ba3 from Ba2, and senior unsecured rating to B1 from Ba3, while S&P downgraded its issuer credit rating to BB- from BB, and senior unsecured notes rating to BB- from BB. Both agencies gave HBI a negative outlook, forecasting that leverage would remain elevated ... Log in to view full article.

 


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