Moody's lowers Remington Outdoor

Moody's Investors Service said it downgraded Remington Outdoor Co., Inc.'s corporate family rating to Caa3 from Caa2 and probability of default rating to Caa3-PD from Caa2-PD.

The downgrades reflect a concern with Remington's weak operating performance, liquidity pressure from approaching maturities and a view that the company's capital structure is unsustainable, Moody's said.

The outlook is negative.

The agency said it is concerned that Remington will be unable to refinance debt that comes due in April 2019 given its weak operating performance and high financial leverage.

Still, Remington has a number of options available to address the 2019 maturities, Moody's said.

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