Moody’s alters Radisson view, pulls ratings

Moody’s Investors Service said it changed the outlook for Radisson Hospitality AB to negative from under review and confirmed the B3 corporate family rating, the B3-PD probability of default rating and the B3 rating on its €250 million backed senior secured bond due 2023 issued by subsidiary Radisson Hotel Holdings AB.

This action concludes the review for downgrade started on May 20, the agency said.

Moody’s said it will withdraw all of Radisson’s ratings following the early redemption of the company’s senior secured bond.

“The rating could be under continued negative pressure should Radisson not be able to preserve a sufficient liquidity profile in light of the expected period of negative free cash flow, an extended period of operational disruption or in absence of adequate measure to restore leverage metrics,” Moody’s said in a press release.

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