Moody’s drops Erickson

Moody's Investors Service said it lowered its ratings assigned to Erickson Inc. (Erickson Air-Crane Inc.), including the corporate family to B2 from B1, probability of default to B2-PD from B1-PD and senior secured second-lien notes to B3 (LGD4) from B1 (LGD4).

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

Moody’s said the downgrade of the corporate family rating better aligns the ratings with the company's credit profile based on projected credit metrics and the execution risks inherent in the company's transformative diversification strategy.

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