...- YS Garment LLC's (doing business as Next Level Apparel) performance is improving as previously forecasted and leverage has improved to 3.7x for the past 12 months ended June 30, 2021, down from the peak of 6.1x in 2020. - We raised our issuer credit rating on the company to 'B' from 'B-', and raised our issue-level rating on the company's senior secured credit facility to 'B' from 'B-.' - The stable outlook reflects our expectations that the company will remain in compliance with its maintenance covenant with more than 15% cushion as it steps down to 4x (from current 4.25x) by the end of the year. This reflects our projection for the company's revenue growth momentum to continue in the low-double-digits area for the rest of 2021 and gradually slow down to the mid-single-digits area for 2022. In addition, we expect the company's enterprise resource planning (ERP) implementation in the second half of 2021 to be relatively seamless and will not significantly impact the company's operations....
