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Moody’s lowers DI Purchaser, loans
Moody's Investors Service said it downgraded DI Purchaser, Inc.'s corporate family rating to Caa3 from Caa1 and probability of default rating to Caa3-PD from Caa1-PD.
In related actions, the agency downgraded DI's first-lien senior secured term loan due 2021 to Caa3 from Caa1 and second-lien senior secured term loan due 2022 to Ca from Caa3.
The outlook is stable.
Moody’s said the downgrade is due to lackluster operating performance resulting in credit metrics over the next 12 to 18 months supportive of lower ratings.
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