Moody's revises Matthews view to stable

Moody's Investors Service said it affirmed Matthews International Corp.’s Ba3 corporate family rating and Ba3-PD probability of default rating. Moody's also affirmed Matthews' B2 senior unsecured instrument rating.

The outlook was revised to stable from negative. The speculative grade liquidity rating remains at SGL-2.

“The outlook was changed to stable from negative based on Moody's expectation that business conditions for the company's largest segments Memorialization and SGK Brand Solutions have improved since the trough of the pandemic, which is a social consideration under our ESG framework,” Moody’s said in a news release.

“Moody's expects secular pressure to continue for the brand solutions segment in the long term; however, low single digit growth in consolidated revenue is achievable based on an improving economy and a stable memorialization and industrial solutions business.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.