Moody’s revises Savage view to negative

Moody’s Investors Service revised the outlook for Savage Enterprises LLC to negative from positive.

“The negative outlook reflects Moody's expectation of weakening conditions in the end-markets and more broadly in the macro-environment, which will be heightened by the coronavirus crisis, and a transitioning business model yet to demonstrate its resilience in such an uncertain environment,” said the agency in a press release.

Moody’s affirmed Savage’s B1 corporate family and senior secured ratings.

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