Moody's changes Amer Sports view to stable

Moody's Investors Service said it changed to stable from negative the outlook of Amer Sports Holding 1 Oy.

"The stabilization of the outlook reflects our expectation that Amer Sports' operating performance will gradually recover from the unprecedented shortfall in sales and earnings which hit the company during 2020 owing to the coronavirus outbreak," said Giuliana Cirrincione, Moody's lead analyst for Amer Sports, in a press release.

Concurrently, Moody's affirmed its B3 corporate family rating and B3-PD probability of default rating. Moody's also affirmed the B3 ratings on the €1.8 billion guaranteed senior secured term loan B tranches due 2026 and the €315 million guaranteed senior secured revolving credit facility due 2025, both borrowed by Amer Sports' subsidiary Amer Sports Holding Oy.

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