February 20, 2023
The Big a’s senior unsecured debt and long-term issuer ratings were downgraded one notch to A3 from A2 by Moody’s, which also downgraded its short-term issuer rating to Prime-2 from Prime-1, and maintained its negative outlook on the company.
The ratings agency lowered VFC’s long term debt ratings to Baa2 from Baa1, and also reduced its other ratings by one notch, as it expects leverage to remain elevated over the next two fiscal years.
The DE bankruptcy court, as expected, approved 54 Glen Cove Realty, LLC’s winning $180,000 bid for Olympia Sports’ brand, customer list and other intellectual property, and the IP assets of CleverTraining and Surf Outfitter.
Yeti is suing the Kent Outdoors-owned paddle board and kayak brand, which has expanded into selling coolers and drinkware, in Tampa, FL, district court alleging patent infringement and other Lanham Act violations.