Moody's Downgrades Manitowoc's CFR to B3; Ratings Outlook Negative
Approximately $260 million of rated debt affected. New York, November 02, 2016-- Moody's Investors Service downgraded Manitowoc Company, Inc.' s Corporate Family Rating to B3 from B2, and Probability of Default Rating to B3-PD from B2-PD to reflect weak demand for many of the company's products, and our expectations for weak profitability in the intermediate term. The company's Speculative Grade Liquidity rating was downgraded to SGL-3 from SGL-2, reflecting our view that the...
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