Moody’s downgrades Academy, loan

Moody's Investors Service said it downgraded the ratings for Academy Ltd., including the corporate family rating to B3 from B2, probability of default rating to B3-PD from B2-PD, and senior secured term loan rating to B3 from B2.

The outlook is stable.

“The downgrades reflect our view that financial risk for Academy will remain elevated, exacerbated by difficult market conditions, including a highly promotional environment for athletic apparel and weak demand for firearms and ammunition,” Raya Sokolyanska, vice president and Moody's lead analyst for Academy, said in a news release.

© 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.