Moody’s views Draslovka negatively

Moody’s Investors Service said it revised its outlook for Draslovka Holding Alpha as and its subsidiary Manchester Acquisition Sub LLC to negative from stable.

“The negative outlook reflects the negative free cash flow (FCF) in 2022 and projected in 2023 that continues to pressure the company's liquidity, with Moody's expectation that the company will reach break-even only by 2024 at the earliest," said Sebastien Cieniewski, a Moody's vice president, senior credit officer and lead analyst for Draslovka, in a press release.

The agency affirmed the B2 ratings on Draslovka’s $348 million backed senior secured term loan B and $30 million senior secured revolving credit facility, also issued by Manchester, and Draslovka’s other B2 ratings.

© 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.