Moody’s changes J.B. Poindexter view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed the ratings of J.B. Poindexter & Co., Inc., including the corporate family rating at B1 and the senior unsecured rating at B2.

This action concludes the review for downgrade started March 26, Moody’s said.

“The negative outlook reflects Moody’s view that the expected return to growth in 2021 for many of J.B. Poindexter’s businesses may not materialize, thus leading to a prolonged downturn that could pressure earnings and strain the company’s liquidity position greater than currently anticipated,” the agency said in a press release.

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