New York, April 13, 2015 -- Moody's Investors Service downgraded the ratings on Perry Ellis International, Inc.'s ("Perry") senior subordinated notes to B3 from B2, due to the company's announced redemption on May 6, 2015 of $100 million of the $150 million outstanding notes amount. The company plans to finance the transaction with $100 million borrowings on its asset-based revolver ("ABL", not rated by Moody's), which will be upsized to $200 million from $125 million. Perry's Corporate Family, Probability of Default, and Speculative-Grade Liquidity ratings were affirmed at B1, B1-PD and SGL-2. The outlook remains negative.

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