Moody's could cut Immucor

Moody's Investors Service said it placed Immucor, Inc.'s Caa1 senior unsecured notes rating, Ba3 term loan B rating and Ba3 revolver rating under review for possible downgrade.

The speculative grade liquidity rating of SGL-2 remains unchanged.

Moody's said the review for possible downgrade reflects Immucor's substantial financial leverage and deviation from the agency's expectation in reducing leverage to a level that is commensurate with its current rating. Immucor's leverage as measured by debt/EBITDA was high at around 7x at the end of the 2013 first quarter.

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