Moody’s shifts Renfro view to negative

Moody’s Investors Service said it changed the outlook for Renfro Corp. to negative from stable.

“The change in outlook to negative from stable reflects the declines in Renfro’s operating performance and the risk that the company may not be able to address the maturities of its asset-based revolver (unrated) and term loan before they become current in February and March 2020, respectively,” said Moody’s in a news release.

Moody’s also affirmed the company’s B3 corporate family rating, B3-PD probability of default rating and B3 term loan rating.

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