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Moody's Upgrades Iconix Brand Group's Secured Term Loan and Subordinated Debt Ratings

NEW YORK, July 28 /PRNewswire-FirstCall/ -- Moody's Investors Service announced today that it upgraded Iconix Brand Group, Inc.'s (Nasdaq: ICON) ("Iconix") Senior Secured Term Loan rating to Ba1 from Ba2 and Senior Subordinated Notes to B2 from B3, and affirmed Iconix's Corporate Family Rating of B1 with a stable outlook. According to Moody's, the upgrade and affirmation primarily relate to changes within Iconix's capital structure, moderate financial leverage and revenue stability as a majority of Iconix's revenue is contractually guaranteed through minimum guaranteed royalty payments. These ratings also reflect Iconix's ownership of a diverse portfolio of brands that are sold across multiple channels of distribution.

Iconix Brand Group Inc. (Nasdaq: ICON) owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R) RAMPAGE (R) MUDD (R), LONDON FOG (R), MOSSIMO (R) OCEAN PACIFIC (R), DANSKIN (R) ROCA WEAR(R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R) and WAVERLY (R). In addition, Iconix owns an interest in the ARTFUL DODGER (R) and ED HARDY (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and around the world. Iconix, through its in-house advertising, promotion and public relations agency, markets its brands to continually drive greater consumer awareness and equity.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this press release are forward looking statements that involve a number of known and unknown risks, uncertainties and other factors, all of which are difficult or impossible to predict and many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, whether or not the Company will offer the common stock or consummate the offering and the anticipated terms of the offering, as well as uncertainty regarding the results of the Company's acquisition of additional licenses, continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to the Company's licensees' dependence on foreign manufacturers and suppliers, uncertainties relating to customer plans and commitments, the ability of licensees to successfully market and sell branded products, competition, uncertainties relating to economic conditions in the markets in which the Company operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation and regulatory proceedings, the risks of uncertainty of trademark protection, the uncertainty of marketing and licensing acquired trademarks and other risks detailed in the Company's SEC filings, including the prospectus supplement relating to the offering. The words "believe", "anticipate," "expect", "confident", "will", "project", "provide" "guidance" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date the statement was made. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

        Jaime Sheinheit
        Investor Relations
        Iconix Brand Group, Inc.

        Tara Levy
        Public Relations
        Iconix Brand Group, Inc.

SOURCE  Iconix Brand Group, Inc.

    -0-                           07/28/2009
    /CONTACT:  Jaime Sheinheit, Investor Relations of Iconix Brand Group,
Inc., +1-212-730-0030, or Tara Levy, Public Relations of Iconix Brand Group,
Inc., +1-212-730-0030/
    /Web Site: /

CO:  Iconix Brand Group, Inc.; Moody's Investors Service
ST:  New York

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3259 07/28/2009 16:46 EDT

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