Moody’s changes Custom Truck view

Moody's Investors Service said it affirmed the ratings of CTOS, LLC (Custom Truck One Source), including the B2 corporate family rating, B2 senior secured rating, and B2-PD probability of default rating.

The rating outlook has been changed to stable.

“Custom Truck's outlook change to stable from positive reflects our view of the anticipated headwinds resulting from the coronavirus-driven economic slowdown, which will weaken the company's topline growth, fleet utilization, and credit metrics relative to our earlier expectations,” Brian Silver, Moody's vice president and lead analyst for CTOS, said in a news release.

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