Moody's: Sun Products view to negative

Moody's Investors Service said it changed Sun Products Corp.'s rating outlook to negative from stable and affirmed the company's existing ratings, including its B2 corporate family rating.

Moody's said the outlook change reflects its view that heightened competitive and promotional activity in the laundry category will pressure Sun Products' revenue and EBITDA and challenge the company's ability to meaningfully reduce its very high leverage.

The agency also updated the loss given default assessments to reflect the current debt mix.

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