Moody's alters Rimini view to negative

Moody's Investors Service said it changed the outlook to negative from stable and affirmed B2 ratings on the Rimini BidCo SpA (RDM) and its €445 million of senior secured floating-rate notes maturing in 2026.

“The negative outlook reflects the risk that persistently high cost inflation in the next 12-18 months will prevent Moody's adjusted gross leverage from declining below 6x. Should it become likely that price increases and the corresponding earnings recovery will not be sufficient to bring leverage close to this target by the end of 2022, the rating will likely be downgraded,” the agency said in a press release.

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