Moody’s: Great Lakes Dredge view to stable

Moody's Investors Service said it changed Great Lakes Dredge & Dock Corp.’s outlook to stable from positive due to continued operating losses within the company's environmental and remediation segment and uncertainty regarding strategic alternatives currently under consideration for that business.

The outlook change was also driven by expectations for continued negative free cash flow generation until 2017.

In related actions, Moody's affirmed Great Lakes' B3 corporate family rating and B3-PD probability of default rating, as well as the Caa1 rating on the senior unsecured notes due 2019 and the SGL-3 speculative grade liquidity rating.

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