The ratings agency downgraded Dutch bikemaker Accell to CCC- from CCC+ following weak sales results in the first half and because its holding company, Sprint HoldCo B.V., plans to change its capital structure to improve liquidity. Accell’s cargo bike company Babboe has been conducting an expensive recall of about 22,000 cargo e-bikes due to frame defects, adding to the company’s woes. S&P also gave Accell a negative outlook, and could lower the rating further if Sprint announces a debt restructuring that it sees ... Log in to view full article.