Moody’s revises Carestream view to negative

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

Moody's affirmed all other ratings of the company, including the B3 corporate family rating, B3-PD probability of default rating, B1 first-lien secured rating and Caa1 second-lien secured rating.

“The revision in rating outlook to negative reflects rising refinancing risk given significant near-term debt maturities,” the agency said in a news release.

“The company's first-lien credit facilities come due in June 2019 and the second-lien credit facility comes due in December 2019.

“The negative outlook also considers that the company will need to execute a refinancing at a time when rising trade tariffs are negatively impacting its cost structure,” Moody’s added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.