Moody’s revises Carolina Beverage to negative

Moody's Investors Service said it affirmed Carolina Beverage Group, LLC's B3 corporate family rating, Caa1 (LGD4, 61%) secured second-lien notes rating and B3-PD probability of default rating.

The outlook was changed to negative from stable.

Moody’s said the negative outlook reflects credit metrics that are weaker than original expectations. The agency expects that Carolina Beverage small scale, high customer concentration and limited free cash flow will temper the pace of deleveraging.

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