Moody’s shifts Ken Garff view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed all its ratings of Ken Garff Automotive, LLC, including the Ba2 corporate family rating. These actions conclude the review for downgrade started on April 17, the agency said.

“The negative outlook reflects Moody’s concern that interest coverage, even with the Q1 improvement, remains close to the downgrade trigger, and a reversal of recent positive trends potentially due to the risks associated with Covid-19 may pressure this key metric,” the agency said in a press release.

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