Moody’s views Infinite negatively

Moody's Investors Service said it changed its outlook for Infinite Bidco LLC to negative from stable and affirmed its ratings, including the B3 corporate family rating, B3-PD probability of default rating, B2 first-lien senior secured bank credit facility and the Caa2 second-lien senior secured bank credit facility.

“The negative outlook considers the uncertainty around the timing of the recovery of the electronic components market, weak cash flow generation in 2023 that could persist into 2024, and elevated financial leverage that could take some time to reach the low 7x range, from about 8.4x estimated at year-end 2023,” Moody’s said in a statement.

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