Moody’s changes Dealer Tire view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed the ratings of Dealer Tire LLC, 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.

This action concludes the review for downgrade initiated on March 26, the agency said.

“The negative outlook reflects the risk that improvement in Dealer Tire’s operating margin and leverage profile in 2021 may not materialize should recessionary conditions persist, and consumers put off tire replacement for an extended period of time,” Moody’s said in a press release.

© 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.