Global demand for grills continues to be challenged and Weber Inc.?s revenue remains depressed, albeit declining at a slowing rate for the last quarter ended June 30, 2023. This could indicate an improving outlook for 2024. Therefore, we affirmed all of our ratings on the company, including our 'CCC+' issuer credit rating. We also revised our liquidity assessment to weak from less than adequate, reflecting the company's need for additional sources of liquidity to fund its inventory build for the 2024 selling season. The negative outlook reflects our expectation that the company's operations will continue to be challenged, with uncertain prospects for grill demand in a softening economy and the additional risk of a liquidity crunch. We believe the overall
