Moody’s cuts Resolute Investment

Moody’s Investors Service said it downgraded Resolute Investment Managers, Inc.’s corporate family rating to B1 from Ba3 and probability of default rating to B1-PD from Ba3-PD. Moody’s also downgraded the first-lien credit facilities’ instrument rating to Ba3 and the second-lien secured credit facilities’ instrument rating to B3.

“The downgrade reflects our view that the increasingly uncertain economic and financial market conditions stemming from the spread of the coronavirus outbreak will have a sustained impact on RIM’s asset under management (AUM) levels and earnings in 2020,” said Moody’s in a press release.

The outlook remains stable

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