Moody’s affirms Fetch Acquisition

Moody's Investors Service said it affirmed Fetch Acquisition LLC's B2 corporate family rating and B2-PD probability of default rating.

The agency also affirmed the B1 revolver and term loan rating.

The affirmation reflects an expectation that demand for pet products will continue to grow at a rate exceeding 3% per year and that the company's revenue growth will match or exceed this rate, Moody’s said.

It also reflects an expectation that the company will maintain good liquidity and reduce debt/EBITDA to below 6 times within two years, the agency added.

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