Moody’s turns Dealer Tire view to stable

Moody’s Investors Service said it changed the outlook for Dealer Tire LLC to stable from negative and affirmed its ratings, including the corporate family rating at B2, the probability of default rating at B2-PD, the senior secured rating at B1 and the senior unsecured rating at Caa1.

“The rating affirmation and change in outlook to stable reflects Moody's expectation that Dealer Tire will demonstrate steady top line growth and maintain margins in an inflationary environment through 2022. As a result, Moody's expects debt/EBITDA to trend toward 5.5x by end of 2022 while the company generates moderate free cash flow,” the agency said in a press release.

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