Moody's: CHI outlook to negative

Moody's Investors Service said it changed C.H.I. Overhead Doors, Inc.'s rating outlook to negative from stable and affirmed its B3 corporate family rating and B3-PD probability of default rating.

Moody's said the change in outlook results from the company's intent to pay a debt-financed dividend to Friedman Fleischer & Lowe, LLC, the primary owner of CHI using some cash on hand and proceeds from a $70 million add-on to the company's existing term.

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