Moody’s changes American Trailer view to negative

Moody’s Investors Service said it changed the outlook for American Trailer World Corp. to negative from under review.

Moody’s also confirmed the company’s B3 rating, B3-PD probability of default rating and Caa1 senior secured rating. The confirmation of the ratings ends the review for downgrade started on April 1, the agency said.

“The negative outlook reflects Moody’s expectation of meaningful downwards pressure on revenue and earnings amid deteriorating end-market conditions into 2021. It also reflects execution risk given the relatively new management team that is faced with navigating the business successfully through a difficult and uncertain environment,” Moody’s said in a press release.

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