Moody’s: AI Avocado outlook to negative

Moody's Investors Service said it changed the outlook on all of the ratings of AI Avocado Holding BV (Unit4) to negative from stable.

Moody’s said the outlook change was driven by: (a) Moody's forecast leverage exceeding the downgrade trigger level of 6 times in 2016; (b) expectation of negative free cash flow generation in 2016 for the second consecutive year; and (c) concerns over credit metrics remaining weaker than expectations and below required levels for a B2 in the next 12 months.

Concurrently, the agency affirmed all of Unit4's ratings.

© 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.