Moody's downgrades CCS Medical

Moody's Investors Service said it downgraded CCS Medical, Inc.'s corporate family rating to Caa2 from B3 and probability of default rating to Caa2-PD from B3-PD.

Concurrently, the agency downgraded the rating on the company's first-lien term loan to Caa2 from B3 and second-lien term loan to Caa3 from Caa2.

The outlook was changed to negative from stable.

Moody's said the downgrade and change in outlook reflects the company's weak liquidity profile, including increased refinancing risk as a result of near-term maturities and the potential need to amend its financial covenants.

© 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.