S&P changes Dimora Brands view to negative

S&P said it changed the outlook for Dimora Brands Inc. to negative from stable.

“In the current economic environment, we believe Dimora’s leverage will increase to the mid-6x area by the end of 2020 as both sales and margins contract. We expect Dimora’s revenue to decline at least 5% and EBITDA to decline approximately 10% in 2020 as a result of curtailed demand,” S&P said in a press release.

The agency confirmed the B ratings on Dimora and its $345 million senior secured first-lien credit facilities and CCC+ on its $50 million second-lien loan.

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