by bondevalue | May 12, 2021 | High Yield Bonds
L Brands’ board approved a plan to separate the company into two independent, public companies: Bath & Body Works and Victoria’s Secret. This would lead to a spin-off its Victoria’s Secret brand rather than a sale. The spin-offs are expected to be completed by...
by bondevalue | Apr 13, 2021 | Credit Ratings, High Yield Bonds
Moody’s has upgraded L Brands to Ba3 from B2 with a stable outlook reflecting strong governance that resulted in a balanced financial policy and an excess cash of $3.9bn at the end of 2020. Last year, the company had slashed dividends by ~50% and curtailed share...
by bondevalue | Mar 22, 2021 | Credit Ratings, High Yield Bonds
American fashion retailer L Brands’ credit rating was upgraded by S&P to BB- from B+. The credit rating agency stated that L Brands plans to repay around $1bn of debt, and that its earnings guidance have been raised for the first quarter of 2021 with...
