Pure Fishing Downgraded by Standard & Poor’s
The ratings agency cut SP PF Buyer LLC’s issuer credit rating and rating on its first-lien term loan to CCC+ from B-, citing increasing pressure from the weak economy on the highly leveraged company. S&P expects its leverage to remain above 10x through the year, only improving to the 9x-10x range in 2021. Its model is based on a mid-20% sales decline in Pure Fishing’s ... Log in to view full article.
