Moody’s cuts Alorica, revises view to negative

Moody’s Investors Service said it downgraded Alorica Inc.’s corporate family rating to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD and its senior secured credit facility, including revolving credit facility, term loan A and term loan B, to Caa1 from B3.

“The downgrade to Caa1 and negative outlook reflects weaker-than expected sales performance and significant earnings erosion in the first half of 2019 that has elevated leverage and weakened the company’s liquidity,” said Moody’s in a press release.

The agency revised the outlook to negative from stable.

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