Moody’s cuts Floor & Decor SGL rating

Moody's Investors Service said it affirmed Floor & Decor Outlets of America Inc.'s Ba3 corporate family rating, Ba3-PD probability of default rating and Ba2 senior secured bank facility rating.

In addition, the speculative grade liquidity rating was downgraded to SGL-3 from SGL-2.

The outlook is negative.

“The change in outlook to negative reflects the uncertainty with regards to the potential length and severity of restrictions and closures of Floor & Decor's stores and the ultimate impact these will have on revenues, earnings and liquidity,” Bill Fahy, Moody's senior credit officer, said in a news release.

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