Moody’s might cut Camping World

Moody's Investors Service said it placed all ratings of CWGS Enterprises, LLC (Camping World), including the B1 corporate family rating, on review for downgrade.

“Today's rating action is in reaction to operating performance in Q4 that was well below expectations, driven by a confluence of factors, including a significant drop-off in sales for all categories of RV's, representing the worst quarter for the industry in several years,” Moody's vice president Charlie O'Shea said in a news release.

“Combining this with the continuing roll-out and revamping of the legacy Gander Mountain stores results in Camping World's leverage and interest coverage landing well-outside of our downgrade triggers.”

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