Moody’s downgrades ALKU

Moody’s Investors Service said it downgraded ALKU, LLC’s ratings, including its corporate family rating to B3 from B2 and its probability of default rating to B3-PD from B2-PD. Also, Moody’s downgraded the instrument ratings on ALKU’s senior secured credit facility to B3 from B2.

“The downgrade of ALKU’s ratings is driven by the company’s exposure to the onset of the coronavirus pandemic that Moody’s expects will keep leverage at our previously indicated downgrade indicator five times during the next 12 months,” said Andrew MacDonald, a Moody’s analyst, in a press release.

“The stable outlook reflects that while previously anticipated growth may not materialize, the company’s credit quality and liquidity should be somewhat insulated from the impact of the coronavirus given the company’s concentration in healthcare IT and life sciences,” he added.

The outlook is stable.

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