Vista Outdoor Downgraded by Standard & Poor’s
Following VSTO’s revised guidance revealed at its investor day last week, the ratings agency has lowered its issuer credit rating B from B+ because its expect profits to remain weak this year and leverage to remain above 5x. S&P’s issue-level rating on Vista’s senior unsecured notes was likewise dropped to B from B+ based on a 55% estimated expectation for meaningful recovery in the event of a default. Vista’s results are ... Log in to view full article.