Moody’s cuts CWGS ratings

Moody's Investors Service said it downgraded ratings for CWGS Enterprises LLC.

The agency cut the corporate family, probability of default and senior secured bank credit facility ratings to B2 from B1, B2-PD from B1-PD and B2 from B1, respectively.

“Today's rating action reflects the reduced prospects for meaningful debt reduction during 2019, which was a key factor for maintaining the B1 rating,” said Charlie O'Shea, Moody's vice president, in a news release.

The outlook remains negative.

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