Moody's turns SK Invictus view to stable

Moody's Investors Service said it revised SK Invictus Intermediate II Sarl's (Perimeter Solutions SA) outlook to stable from positive. The agency also affirmed the B2 corporate family rating, its B2-PD probability of default rating, the B2 rating on the $675 million of senior secured notes due 2029 and assigned an SGL-1 speculative grade liquidity rating.

"The outlook revision reflects the company's financial performance that missed expectations in its fire safety business following a mild fire season and destocking that impacted the company's specialty products segment," said Domenick R. Fumai, a Moody's vice president and lead analyst for SK Invictus Intermediate II, in a press release.

"Furthermore, despite being a public company, Perimeter's financial policy has been more aggressive than previously expected," Fumai added.

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