Moody's cuts RVR Dealership

Moody's Investors Service said it downgraded RVR Dealership Holdings, LLC's corporate family rating to B2 from B1, its probability of default rating to B2-PD from B1-PD and its $800 million senior secured term loan rating to B2 from B1.

“The downgrades reflect Moody's expectation that RV Retailer's lease-adjusted debt/EBITDA will remain elevated around 5.1x at the end of 2024 as it recovers from discounting of overstocked RVs in 2023 with limited gross margin expansion going forward as consumer demand remains tempered by high-interest rates and persistent inflation,” the agency said in a press release.

The outlook remains stable.

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