Moody's sinks Northwest Acquisitions

Moody's Investors Service said it downgraded Northwest Acquisitions ULC's probability of default rating to D-PD from Caa1-PD, its corporate family rating to Ca from Caa1, its first-lien secured rating to Caa1 from B2, and its second-lien secured rating to Ca from Caa1.

“The ratings outlook remains negative. The rating action follows Northwest filing for insolvency protection under the Companies' Creditors Arrangement Act (CCAA),” the agency said in a press release.

Moody’s said it will withdraw its ratings on the company.

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