Moody’s revises Alison view to stable

Moody's Investors Service said it changed the outlook on all the ratings of Alison Midco Sarl to stable from positive.

Concurrently, the agency affirmed: (a) The B3 corporate family rating and B3-PD probability of default rating assigned to Alison Midco and the holding company for the operating subsidiaries; (b) the B2 ratings assigned to the first-lien senior secured term loan and the senior secured revolving credit facility of Arvos BidCo Sarl; and (c) the Caa2 ratings assigned to the second-lien senior secured term loan of Arvos Inc.

The outlooks of Arvos BidCo and Arvos Inc. were changed to stable from positive.

"The change in outlook reflects the increasingly tough environment for coal-fired power generation because of lower commodity prices and the implementation of stringent environmental legislation," Scott Phillips, Moody's vice president, senior analyst and lead analyst for Arvos, said in a news release.

"As a manufacturer of products for the utility and oil & gas industries, Arvos is somewhat sensitive to the demand from companies operating within these segments."

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