Moody's drops Motorsport Aftermarket

Moody's Investors Service said it downgraded Motorsport Aftermarket Group, Inc.'s corporate family rating and probability of default rating to Caa2 from Caa1 and its senior secured credit facilities to B3 from B2.

The outlook was revised to negative.

According to Moody's, the downgrade of the corporate family rating to Caa2 reflects the company's weakening operating performance and eroding liquidity.

Its revenues continued to decline in the recent past, primarily driven by the decreasing demand for its motorcycle parts and accessories as the prolonged recession continued to take tolls on consumer disposable income and discretionary spending for leisure related products, Moody's said.

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