Moody's downgrades Optimas

Moody's Investors Service said it downgraded Optimas OE Solutions Holding, LLC 's corporate family rating to Caa1, probability of default rating to Caa1-PD and senior secured rating to Caa2. The outlook is changed to negative.

"With significant exposure to the automotive and trucking manufacturing industry, low profitability, elevated leverage, and significant debt maturities due in June 2021, Optimas is highly susceptible to a cyclical downturn in the global economy and may not be able to refinance its debt," said Emile El Nems, a Moody's vice president and senior analyst, in a press release.

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