Moody’s downgrades Ola's credit rating amid liquidity concerns
pre-market1 source ↓written by the desknot a recommendation
- in a term
- $500 million
Moody’s has downgraded Ola’s credit rating to Caa1 and assigned a negative outlook due to weakening operating performance, which is straining liquidity and increasing the risk of a loan covenant breach. The downgrade reflects ongoing challenges faced by the firm, which previously raised $500 million in a term loan for expansion.
This rating action may impact investor sentiment and raise borrowing costs for the company.
Not investment advice. For informational purposes only.