Moody’s cuts RentPath

Moody’s Investors Service said it downgraded RentPath, LLC’s corporate family rating to Caa3 from Caa1 and its probability of default rating to Caa3-PD from Caa1-PD due to the deterioration in the company’s liquidity position primarily driven by continued competitive pressure on the company’s market position within the rental listing marketplace.

Moody’s also downgraded the company’s senior secured first-lien credit facilities to Caa3 from B3. The second-lien term loan was downgraded to C from Caa3.

The outlook remains negative.

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