...January 19, 2023 - Custom window coverings manufacturer Hunter Douglas Finance B.V.'s leverage was 6x at the end of third quarter ended Sept. 30, 2022, as inflationary pressures, foreign exchange headwinds, and weakening global consumer demand weighed on the company's profitability and credit metrics this year. - We now expect leverage will remain at about 6x in 2022 compared with our original expectation of the mid-5x area, increasing to the mid-6x area in 2023. - As a result, we lowered our issuer credit rating to 'B' from 'B+'. At the same time, we lowered our issue-level rating on the company's first-lien debt to 'B' from 'B+'. The '3' recovery rating remains unchanged and indicates our expectation of meaningful (50-70%; rounded estimate: 55%) recovery in the event of default. - The stable outlook reflects our expectation that the company will maintain leverage below 7x for the next 12 months despite our expectation for weaker global macroeconomic conditions, stressing consumer spending...
