Moody’s Affirms Tom’s Rating but Lowers Outlook
The ratings service affirmed its Caa3 rating on Tom’s term loan but lowered the probability of default to Caa3 from Caa2. Although its turnaround has gained some traction, it was unlikely to improve its cash flow enough to meet $306.5 million in term loan obligations maturing in 2020. Moody’s said it did expect further improvements from its Stand for ... Log in to view full article.
