Moody’s alters Affidea view to negative

Moody’s Investors Service said it changed the outlook of Affidea BV to negative from stable. Concurrently, Moody’s affirmed the company’s B2 corporate family rating and its probability of default rating at B2-PD. At the same time, Moody’s affirmed the company’s B2 rating assigned to the senior secured bank credit facilities due in 2026.

“Today’s rating action is primarily driven by the agency’s expectations that the spread of the coronavirus and closure of several diagnostic centers will negatively impact Affidea’s operating profits, free cash flow (FCF) generation and other key credit metrics in 2020,” Moody’s said in a press release.

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