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Moody’s revises AAC outlook to negative
Moody’s Investors Service said it revised its outlook for AAC Technologies Holdings Inc. to negative from stable and affirmed its Baa3 issuer and senior unsecured ratings.
"The negative outlook reflects our expectation that the proposed acquisition of Premium Sounds Solutions will weaken AAC Technologies' financial buffers and bring execution risks. The company's leverage will rise as a result of increased debt and lower profitability due to greater expenses. Execution risks arise from integrating the target's teams and operations, which are more geographically diverse than AAC Technologies'," said Gerwin Ho, a Moody's vice president and senior credit officer, in a press release.
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