Gibson Guitar May Default If Company Can't Refinance Its Debt
There's 'uncertainty' about the famed guitar maker's ability to refinance this debt and that its capital structure is 'unsustainable,' according to Moody's.
What's lower than a B? The financial rating of Gibson Brands Inc. The famed guitar maker had its rating lowered to Caa3, nine notches into junk territory, with a negative outlook, as maturity of $520 million in debt approaches.
Moody's has the story.
