Moody’s Downgrades Boardriders
Two weeks after Standard & Poors revised Boardriders’ outlook to negative, Moody’s has weighed in with a downgrade of its corporate family rating to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD, and secured term loan rating to Caa1 from B3. Like S&P, Moody’s is concerned that Boardriders is continuing to burn cash and is on ... Log in to view full article.