Moody's: Gundle/SLT IPO, debt reduction are positive

Moody's Investors Service said that the February IPO of Gundle/SLT Environmental Inc.'s parent, GSE Holding, Inc., and the $52 million debt reduction that followed was a positive development that could justify better credit and propel the B3 corporate family rating upward.

But the company's limited liquidity and inventory growth continues driving cash flow deficits, which gives the agency pause.

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