Moody’s downgrades Technicolor

Moody’s Investors Service said it downgraded Technicolor SA’s corporate family rating to B1 from Ba3 and the probability of default rating to B1-PD from Ba3-PD.

Concurrently, the agency downgraded to B1 from Ba3 the ratings on the group's senior secured term loans maturing 2023.

The outlook is negative.

Moody’s said the downgrade follows Technicolor's announcement of weaker than expected results for the full year 2017 and a view of the group to be unable to restore its credit metrics to levels in line with a Ba3 rating over the next two to three years.

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