Moody’s changes Restaurant Technologies view to negative

Moody’s Investors Service said it changed the outlook to negative from stable and affirmed Restaurant Technologies, Inc.’s ratings, including its corporate family rating at B2 and its probability of default rating at B2-PD.

Moody’s also affirmed the ratings on the company’s senior secured first-lien credit facilities at B1, including its $60 million senior secured first-lien revolver due 2023 and $400 million senior secured first-lien term loan due 2025, and the rating on its $100 million senior secured second-lien term loan due 2026 at Caa1.

“The outlook change to negative reflects the company’s high financial leverage amid restaurant closures and reduced operations as a response to the coronavirus pandemic, and the uncertainty around the duration of the outbreak and pace of re-openings and volume recovery once the pandemic subsides,” the agency said in a press release.

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