Moody’s changes Keter view to stable

Moody’s Investors Service said it changed the outlook to stable from negative and affirmed the Caa1 corporate family rating and Caa1-PD probability of default rating of Keter Group BV. Concurrently, Moody’s affirmed the Caa1 senior secured term loans B and revolving credit facility.

“The rating action reflects the significant improvement in operating performance and liquidity profile in the first half of 2020 and Moody’s expectation that credit metrics will continue to improve. A sustained improvement of credit metrics and positive free cash flow (FCF) generation could support further positive rating pressure over the next quarters,” the agency said in a press release.

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