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S&P lowers Outerstuff
S&P said it lowered the issuer credit rating on Outerstuff LLC to B- from B and placed the rating on CreditWatch with negative implications.
At the same time, S&P cut its issue-level rating on the company's ABL facility to BB- from BB and the issue-level rating on its term loan to B- from B.
“The CreditWatch placement reflects that we could lower our rating on Outerstuff if it is unable to renew the ABL facility over the next 1-2 months. Without the ABL, we believe Outerstuff would not have sufficient liquidity to fund its operations,” S&P said in a news release.
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