Moody's lowers AVI-SPL

Moody's Investors Service said it downgraded A&V Holdings Midco, LLC's (AVI-SPL) corporate family rating to B3 from B2, probability of default rating to B3-PD from B2-PD and senior secured credit facility rating to B3 from B2.

“The downgrade of the CFR to B3 from B2 reflects Moody's concerns around liquidity tightening throughout 2022 given prevailing macroeconomic uncertainty, including global supply chain challenges and an inflationary environment. AVI faces several operating challenges as a large number of projects have been delayed due to the company's inability to secure certain products from its suppliers, which prevents it from completing projects,” the agency said in a press release.

The outlook remains negative.

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