Moody’s changes Focus Brands to negative

Moody's Investors Service said it affirmed Focus Brands Inc.'s ratings, including the B2 corporate family rating, B2-PD probability of default rating, B1 ratings on its first-lien credit facilities and Caa1 ratings on its second-lien term loan.

The outlook was changed to stable from negative.

Moody’s said the outlook change reflects the company's improved operating performance across all of its store brands that, when coupled with continued debt pay down, has led to improved debt protection metrics. The agency expects profitable growth and de-leveraging to continue over the next 12 to 18 months.

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