We forecast Milan-based global luxury company Golden Goose SpA?s leverage (S&P Global Ratings-adjusted) will be sustained at about 3.0x on gross basis over the next two years, reflecting the company?s continued focus on the higher-margin, direct-to-consumer (DTC) segment and their prudent financial policy. We think that the company?s strategy with its resilient customer base will continue to drive EBITDA growth and uphold leverage. As a result, S&P Global Ratings raised its long-term issuer credit rating on Golden Goose to ?BB-? from ?B+? and its issue-level rating on the company?s floating rate senior secured notes to ?BB-? from ?B+?. The recovery rating on the floating rate senior secured notes remains unchanged at ?3?, reflecting our expectation of meaningful recovery prospects (50%-70%;
