S&P ups Abercrombie & Fitch

S&P said it upgraded the issuer credit rating on Abercrombie & Fitch Co. to BB from BB- and the issue-level ratings on the company’s senior secured notes to BB+ from BB.

The outlook is stable.

S&P said the apparel retailer reported strong sales and operating margin expansion in 2023. This reflects its transformation initiatives, which demonstrated results ahead of S&P’s expectations.

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