EQT's Lab Firm Cerba Downgraded by Moody's on Growth Outlook [BNN Bloomberg (Canada)]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: BNN Bloomberg
Cerba's financial and credit profile has “significantly weakened” with €4.7 billion ($5.2 billion) of adjusted debt as of June 30 June, the ratings agency commented in a note published on Tuesday. The company spent more than €3 billion buying other European labs between 2020 and 2022. “While these acquisitions offer potential for growth and market expansion, they also introduce significant execution risk, particularly in terms of integrating these new entities into the larger corporate structure and realizing the anticipated cost synergies,” Moody's analysts wrote. The ratings firm cut the parent company's rating one notch to Caa1, seven steps into high-yield territory. It also downgraded Cerba's senior secured loans and notes — as well as its revolving credit facility — two notches to Caa1, and lowered its unsecured notes one notch to Caa3. Cerba's €525 million unsecured notes due in 2029 fell almost 4 cents on the euro to around 63 cents on Tuesday following the downgrade, ac
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MCO
Earnings
- 7/24/24 - Beat
MCO
Sec Filings
- 9/10/24 - Form 4
- 9/10/24 - Form 4
- 9/10/24 - Form 4
- MCO's page on the SEC website