S&P revises Hayward outlook to negative

S&P said it revised the outlook for Hayward Industries Inc. to negative from stable.

“We are revising the outlook to negative from stable, reflecting the possibility that the company may not reduce leverage back within our expectation of below 7x in the next 12 months if industrywide inventories do not sell through or if weather-related performance weakness persists,” said S&P in a press release.

The agency affirmed all Hayward ratings including the issuer and first-lien term loan ratings of B and the CCC+ rating on the second-lien term loan.

© 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.