| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for SuperMoose Newco, Inc. > News item |
S&P cuts CentralSquare
S&P said it downgraded SuperMoose Newco Inc. (CentralSquare) to CCC from CCC+, the rating on its first-lien term loan and revolver to CCC+ from B- and the second-lien term loan to CC from CCC-. The 2 recovery rating on the first-lien term loan and 6 recovery rating on the second-lien term loan are unchanged.
“Persistent operational issues add risk to CentralSquare’s liquidity over the next 12 months.
CentralSquare continues to face operational issues stemming from its three-company rollup back in July 2018. In the second quarter of this year, it implemented further integration initiatives that will help CentralSquare’ solutions in the long run but will depress EBITDA and FOCF generation in the short term,” S&P said in a press release.
Another problem was added severance costs after having to hire a new CEO and chief financial officer over the past six months, the agency pointed out.
The outlook is negative.
© 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.