Moody's places CGSC ratings on review for downgrade
Chairman Martin Sullivan says firm is disappointed but remains focussed on taking corrective action.
Moody's has placed the debt ratings of Cooper Gay Swett & Crawford on review for a downgrade following a deterioration in Ebitda, financial leverage and interest coverage.
Cooper Gay has a B3 corporate family rating and a B3-PD probability of default rating from the agency. It has also placed a B2 rating on the firm's credit revolving facility and first term loan, and a Caa2 on its second term loan.
The review will focus on the timing and magnitude of the company's strategic initiatives to
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