Moody's Investors Service Inc. downgraded Bass Pro Shops' credit outlook again after lowering it last fall.
Bass Pro Group, dba Bass Pro Shops, now has a negative outlook, down from stable in September 2019, according to a news release issued last week. That means Moody’s expects the company's credit rating to change for the worse in the next 12-18 months.
"The change in outlook to negative from stable reflects the risk that Bass Pro's credit metrics may weaken on a sustained basis as a result of recessionary conditions and declines in discretionary consumer spending," Moody's officials said in the release. "The outlook also reflects the risk of weakened liquidity if the company closes its stores for an extended period. Bass Pro has not announced chainwide store closures due to the coronavirus outbreak."
Bass Pro last month temporarily closed its flagship store in Springfield, while continuing to operate its other shops with voluntary restrictions.
Moody’s affirmed Bass Pro’s probability of default and corporate family ratings, as well as its senior secured term loans, in the B range, meaning adequate capital to meet financial commitments, according to the release.
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