Moody's revises Recess Holdings view to negative

Moody's Investors Service said it revised the outlook to negative and affirmed Recess Holdings, Inc.'s ratings, including its corporate family rating at B3, its probability of default rating at B3-PD, the rating on the company's senior secured first-lien term loan due 2024 at B2 and the rating on its senior secured second-lien term loan due 2025 at Caa2.

“Today's outlook change to negative reflects Moody's view that schools and recreational/fitness facilities closures, and the weak economic outlook as a result of the coronavirus pandemic will affect negatively demand for the company's playground products at least through 2020,” the agency said in a press release.

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