Moody’s might cut Owens & Minor

Moody's Investors Service said it placed the ratings of Owens & Minor, Inc. on review for downgrade.

This includes the company’s B1 corporate family rating, its B1-PD probability of default rating and the B1 ratings on its senior secured bank facilities and senior secured notes.

Moody's also affirmed the SGL-3 speculative grade liquidity rating.

“The review for downgrade reflects the company's weak operating performance and free cash flow, as well as recent turnover in senior management,” Jean-Yves Coupin, vice president, senior analyst at Moody's, said in a news release.

“These factors have contributed to financial leverage which is high for the B1 rating category.”

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