Moody's affirms Sheridan

Moody's Investors Service said it affirmed the B2 corporate family and probability-of-default rating for the Sheridan Group, Inc. and B2 rating (LGD4, 53%) on its senior secured notes.

The outlook remains stable.

The ratings are supported by high customer retention in Sheridan's niche segment, evidence of margin stabilization and good liquidity.

The rating also reflects the modest growth prospects and competitive pressures in its industry, its lack of scale and financial risk, the agency said.

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