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Moody’s Ratings downgrades Crash Champions credit rating
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Moody’s Ratings downgrades Crash Champions credit rating
Champions Financing Inc. was downgraded to a Caa1 long-term rating, according to a Moody’s report released last week. Moody’s report “Update to credit analysis following downgrade to Caa1” states the company has weak operating performance, very high leverage, and weak free cash flow, which is predicted to persist for some time. The Caa rating is described by Moody’s as highly speculative and is likely in or very near default with some prospect…
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