Moody's: Erickson view to negative

Moody's Investors Service said it affirmed its ratings assigned to Erickson Inc. (formerly known as Erickson Air-Crane Inc.): corporate family of B1, probability of default of B1-PD and senior secured second-lien notes of B1, 57-LGD4.

The agency also lowered the speculative grade liquidity rating to SGL-3 from SGL-2 and changed the outlook to negative from stable.

Moody's said the outlook change follows the weaker operating performance and a weaker liquidity profile than was expected when the company came to market in April 2013 as it prepared to close two acquisitions, (a) the acquisition of Evergreen Helicopters Inc. from Evergreen International Aviation (not rated); and (b) the purchase of Air Amazonia, a small operator based in Brazil.

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