Moody's: Sun Products view cut to negative

Moody's Investors Service said it affirmed the corporate family and probability of default ratings of Sun Products Corp. at B2 and revised the outlook to negative.

Moody's said the negative outlook reflects the risk that the company will not be able to restore its credit metrics to levels appropriate for its B2 rating given the recent decline in operating performance and still challenging category dynamics and high input costs.

"Sun Products faces a significant challenge over the next 12 months as it seeks to restore manufacturing productivity, improve cash flow and profitability following a difficult ERP systems integration initiative earlier this year," Moody's senior vice president Janice Hofferber said in a news release.

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