Moody’s ups CSM Bakery view to stable

Moody's Investors Service said it revised CSM Bakery Solutions Ltd.’s outlook to stable from negative and affirmed the corporate family rating at B2, probability of default rating at B2-PD, first-lien term loan rating at B1 and second-lien term loan rating at B3.

The stable outlook reflects Moody's expectation that although CSM Bakery's operating performance will likely experience headwinds from restructuring activities over the next year, the company should able to sustain debt/EBITDA at around 6 times and begin to generate positive free cash flow next year, the agency said.

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