Moody’s changes K&N outlook to negative

Moody's Investors Service said it changed the outlook for K&N Parent Inc. to negative from stable.

“The negative outlook reflects our view that K&N's loss of sales from a key customer and the shift in the channel mix will take time to restore through recently announced corporate initiatives which will require additional liquidity,” said Inna Bodeck, Moody's analyst, in a news release.

Moody’s affirmed all K&N’s ratings, including its B3 corporate family and B3-PD probability of default ratings.

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