The ratings agency upgraded Beach Acquisition Co. Parent LLC’s (dba Skechers) corporate family rating to B1 from B2 and its senior unsecured notes rating to B3 from Caa1, highlighting Skechers’ strong operational performance and progress in implementing its cost-savings program. The outlook was changed from positive to stable. Skechers’ revenue rose 6% in the first half, driven by a 12% increase in direct-to-consumer sales, while wholesale revenue was affected by disruptions in the Middle East. The company launched a range of initiatives, including direct sourcing and freight-rate ... Log in to view full article.