Moody’s changes WEI Sales view

Moody's Investors Service said it affirmed the ratings of WEI Sales LLC including its corporate family rating at B1, its probability of default ratings at B1-PD, and its first-lien term loan due 2025 at B2.

The outlook was revised to negative from stable.

Moody's said its outlook change reflects its concern that higher dairy, freight and labor costs are weakening profit margins and that the company is facing volume declines and weaker year over year gross margins in its packaged ice cream segment as sales normalize from last year's elevated coronavirus quarantine induced levels.

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