Moody's turns LaserShip view to negative

Moody's Investors Service, said it changed the outlook to negative from stable and affirmed the ratings of LaserShip, Inc., including its B2 first-lien credit facilities rating and Caa2 second-lien credit facility rating.

“Moody's expects LaserShip to face significant execution risk as it heads into a critical 2022 peak holiday delivery season. LaserShip's weak credit metrics reflect the company's disappointing 2021 peak season when its network struggled to handle excess package volume. This led to a temporary loss of customers and volumes for several months. It is not yet certain whether LaserShip's actions to add significant capacity in its network with new and expanded sorting centers will prove effective. Further, these actions have required substantial capital investments, which have weakened the company's liquidity,” the agency said in a press release.

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