Moody's has upgraded Wolverine Worldwide's corporate family rating to Ba1 from Ba2 and its senior unsecured notes maturing in 2026 to Ba2 from Ba3, citing the completion of its reorganization initiatives. The rating agency noted that the company significantly improved its financial leverage in the past two years, and that liquidity is good. It expects stable growth in revenues and profits over the next 12 to 18 months, in spite of the investments planned by Wolverine for its global growth.
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