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04.08.2016 22:44:00
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Sequa Corporation -- Moody's downgrades Sequa CFR to Ca from Caa2; outlook is negative
New York, August 04, 2016 -- Moody's Investors Service has downgraded its ratings for Sequa Corporation ("Sequa"), including the Corporate Family Rating (CFR) to Ca from Caa2 and the Probability of Default Rating (PDR) to Ca-PD from Caa2-PD. The company's senior secured bank debt was also downgraded to Caa3 from Caa1 while the senior unsecured bond rating were downgraded to C from Ca. The rating outlook is negative.
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