Pure Fishing Gets Debt Downgraded by Moody’s
Moody’s said that debt from the recent Svendsen Sport acquisition and last year’s purchase of Plano Synergy Holdings would keep pro forma leverage at Pure Fishing parent, SP PF Buyer LLC, at around 7.8x, even taking into account expected synergies. The rating agency maintained Pure Fishing’s Caa1 corporate family rating, but downgraded its first lien term loan rating to Caa1, and lowered its outlook to stable from positive. Inflation, macro-economic conditions in ... Log in to view full article.