Moody's alters Artivion view to negative

Moody's Investors Service said it changed the outlook for Artivion, Inc. to negative from stable and affirmed the company's B2 corporate family rating, the B2-PD probability of default rating and the B1 rating on the senior secured first-lien credit facilities.

“The change of outlook to negative from stable reflects Moody's expectation that Artivion may be unable to achieve credit metrics consistent with its ratings over the next 12-24 months, including adjusted net debt/EBITDA approaching 5x. While Moody's expects Artivion to continue to post strong organic revenue growth in the high single-digits, forward earnings growth may continue to be constrained by challenging labor and supply chain conditions, which negatively impacted profitability in FY2021,” the agency said in a press release.

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