Moody’s might trim Multi-Color

Moody's Investors Service said it placed the Ba3 corporate family rating, Ba3-PD probability of default rating and all instrument ratings of Multi-Color Corp. under review for downgrade.

The review follows the announcement that Platinum Equity LLC, through a merger with its portfolio company, W/S Packaging Holdings, Inc., agreed to acquire Multi-Color.

“The review for downgrade reflects the potential additional debt from the proposed merger and both company's elevated credit metrics,” the agency said in a news release.

“Both company's credit metrics remain elevated following their respective most recent transactions.”

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