Moody's: Nash Finch view negative

Moody's Investors Service said it changed Nash Finch Co.'s outlook to negative from stable and revised the company's speculative grade liquidity rating to SGL-3 from SGL-2.

At the same time, Moody's affirmed Nash Finch's Ba3 corporate family and probability of default ratings and the B2 rating on the company's convertible senior subordinated notes.

The change in the ratings outlook to negative reflects the company's lack of progress in improving its credit metrics, Moody's said. Nash Finch's ability to grow earnings and to deleverage has become less certain given continuing operating weaknesses.

© 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.