Moody’s revises AgroFresh to negative

Moody's Investors Service said it affirmed AgroFresh Inc.'s B2 corporate family rating, B2-PD probability of default rating and B2 senior secured credit facility rating.

The agency also lowered the speculative grade liquidity rating to SGL-3 from SGL-2 and revised the outlook to negative.

Moody’s said the outlook revision reflects diminished growth prospects due to slower than expected commercialization of new products and increased competition relative to when the rating was first assigned.

The negative outlook also reflects patent expiration for the key encapsulation technology over the next two years which, together with increased competitive environment, will likely pressure margins going forward, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.