Moody's revises Tacala view to stable

Moody's Investors Service said it changed Tacala Investments Corp.'s outlook to stable from negative. Moody's also affirmed Tacala's corporate family rating at B3, its probability of default rating at B3-PD, its first-lien senior secured bank facilities rating at B2 and second-lien bank term loan at Caa2.

“The affirmation and outlook change to stable reflects Tacala's positive operating performance over the last 12 months despite challenging conditions related to the coronavirus pandemic, and Moody's expectation for further growth over the next 12 months as consumers continue to spend on food-away from home, through both positive same store sales, new store openings and acquisitions,” the agency said in a press release.

Moody’s noted that Tacala lowered its debt to EBITDA to about 6.6 times as of June 2021 from around 7.3 times at year-end 2020.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.