Pure Fishing, whose brand portfolio includes Hardy, is facing stiff headwinds.

Moody’s Investors Service downgraded the debt ratings of SP PF Buyer LLC, doing business as Pure Fishing, as the fishing gear maker’s sales declined 15 percent in 2022.

“Today’s rating downgrade and negative outlook reflect Pure Fishing’s unsustainable capital structure and the elevated risk of default over the next 12-to-18 months given its very high financial leverage,” said Oliver Alcantara, AVP-Analyst at Moody’s. “We expect that demand and industry headwinds will persist in 2023, and the company has limited financial flexibility to absorb prolonged revenue pressures given its constrained liquidity.”

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Pure Fishing, whose brand portfolio includes Hardy, is facing stiff headwinds. Moody’s Investors Service downgraded the debt ratings of SP PF Buyer LLC, doing business ...{ai:summary}Pure Fishing, which includes Hardy, is struggling with declining sales as Moody's downgrades their debt ratings due to an unsustainable capital structure and high financial leverage. Moody's predicts that demand and industry pressures will likely continue in 2023, leaving the company with limited financial flexibility to handle prolonged revenue struggles.Pure Fishing faces tough fishing while its sales sink by 15% in 2022. Moody’s downgrade reflects an unsustainable capital structure and a high risk of default due to financial leverage and limited revenue flexibility. The forecast predicts continued industry headwinds, leaving the company struggling to stay afloat.

Pure Fishing’s Debt Ratings Downgraded

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