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Moody’s changes GPD outlook to negative
Moody’s Investors Service said it revised its outlook for GPD Cos., Inc. to negative from stable and affirmed its B3 senior secured rating and B2 corporate family and B2-PD probability of default ratings.
“Moody's changed the rating outlook to negative from stable due to weak operating performance and weak credit metrics,” the agency said in a press release.
The agency noted GPD’s Moody's adjusted debt/EBITDA rose to 8.7x as of December 2022 but sees the company reducing it to 6.7x in fiscal 2023.
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