Moody's alters Carestream view to negative

Moody's Investors Service said it changed Carestream Health Inc.’s outlook to negative from stable.

“The change of outlook to negative from stable reflects elevated refinancing risk, as substantially all of the company's debt maturities will become current in 2022 absent a successful refinancing transaction (or other liquidity event that would result in the repayment of outstanding debt). Specifically, the company's first-lien credit facilities are due in May 2023, and its second-lien term loan is due in August 2023.

Moody's also affirmed the company's B3 corporate family rating, B3-PD probability of default rating, B1 ratings of senior secured first-lien credit facilities and the second-lien term loan’s Caa1 rating.

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