Solocal: Moody’s speaks of an increased risk of default and lowers its rating

(Boursier.com) — So local loses 5% to 0.189 euro at the end of the morning while Moody’s has just lowered the CFR credit rating from ‘Caa1’ to ‘Caa3’ and the probability of default (PDR) rating from ‘Caa1-PD’ to ‘Caa3-PD ‘. The outlook changes from ‘under review’ to ‘negative’. This action concludes the review initiated by Moody’s on February 28 following the company’s decision to postpone the publication of results for fiscal year 2022. an increased risk of default and low liquidity…”, specifies the agency.