Moody's views Springs Windows negatively

Moody's Investors Service said it changed its outlook for SWF Holdings I Corp. (Springs Windows) to negative from stable but affirmed its ratings, including the B2 rating on the company's first-lien bank credit facility, the Caa2 rating on the company's $625 million of senior unsecured notes due 2029 and the B3 corporate family rating.

“The outlook change to negative reflects Moody's expectations that Springs Windows' free cash flow will likely be negative in 2023 amid ongoing volume declines and cost inflation, along with rising borrowing rates. Persistently high inflation is pressuring consumer discretionary spending and weaker housing market trends due to rising borrowing costs are negatively impacting demand for the company's products,” the agency said in a press release.

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