This report does not constitute a rating action. FRANKFURT (S&P Global Ratings) May 6, 2025--S&P Global Ratings said today that Milan-based luxury goods company Golden Goose's extension of its €480 million floating-rate secured notes to 2031 reduces refinancing risk and demonstrates financial discipline. Additionally, €100 million of cash on balance sheet will be earmarked for possible future dividends that Golden Goose may distribute in one or multiple tranches in 2025-2026. We do not consider this an extraordinary event because shareholders have not received any dividends since investment firm Permira acquired Golden Goose in 2020. As part of the refinancing, Golden Goose will extend its €63.8 million super senior revolving credit facility 2031 and increase it to €100 million. We consider
