Crocs is planning to make a private placement for $300 million worth of senior notes due in 2029, with $180 million used to repay outstanding loans under a revolving credit line. The rest would be used for general corporate purposes. Moody’s gave a B1 rating to the notes. Standard & Poor’s gave a BB- issuer credit rating to the company as well as the notes. Both rating agencies estimated that Crocs’ debt/Ebitda ratio would grow to 1.5 times from 1.1 times after the notes are issued. Moody’s said that the company has a history of “erratic” Ebitda performance, but felt that the current management has carried out a successful turnaround, putting Crocs on the right track with a conservative financial strategy.