Moody's downgrades Wahoo

Moody's Investors Service said it downgraded Wahoo Fitness Acquisition LLC's ratings, including its corporate family rating to Ca from Caa3, its probability of default rating to D-PD from Caa3-PD, and the rating on the company's senior secured first-lien credit facility to Ca from Caa3.

The first lien credit facility consists of a $30 million first-lien revolver due 2026 and a $225 million original principal amount first-lien term loan due 2028.

The outlook is negative.

“The downgrade of the PDR to D-PD reflects Wahoo’s missed debt service payment due 31 March 2023 and the expiration of the applicable grace period,” Moody’s said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.