Barnes and Mullins

Barnes and Mullins

Garland slams Gibson following Moody’s downgrade

US financial pundit and MI industry blogger Eric Garland has penned another tough analysis of Gibson’s financial position following a reported further downgrade of Gibson Brands’ rating by Moody’s Investor Service.

In his latest article, Garland, whose trenchant views on Guitar Center, Fender and Gibson have made his blog a ‘must read’ in US industry circles says: ‘Moody’s is giving a shout out to anyone who owns Gibson Brands’ corporate debt and letting them know that they consider the creditworthiness of the company as a whole (not just a specific bond) has gone from junk to a little junkier junk due to the fact that they’re outta cash and owe a lot of money to other people. Oh, and things look like they’ll get worse. ‘

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