Moody's downgrades LendingTree's CFR to Caa1; outlook negative
Moody's Investors Service ("Moody's") downgraded LendingTree, Inc.'s ("LendingTree") Corporate Family Rating (CFR) to Caa1 from B3 and the senior secured credit facility to B3 from B1. The outlook was changed to negative from stable. The downgrade of the CFR and negative outlook reflects continuin...LendingTree operates the online consumer platform. Services include mortgage loans, mortgage refinances, home equity loans and lines of credit, auto loans, and other related offerings. The company's segments include: Home, in which it partners with lenders throughout the United States to provide geographic lending coverage and to provide a suite of loan offerings on its marketplace; Consumer which provides consumer lending products on its online marketplace and non-lending Consumer products; and Insurance, which includes information, tools and access to insurance quote products, including home and automobile, through which consumers are matched with insurance aggregators to obtain insurance offers.
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