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Moody’s: 70% of firms with low credit rating backed by private equity

Seventy percent of the 186 companies that received a B3 negative or lower credit ratings from Moody's are backed by private equity firms, according to a report released Tuesday by the credit ratings agency.

"With more than 70% of the companies on this list backed up by private equity, their liquidity profiles can deteriorate quickly when earnings growth slows down and leverage remains high," the Moody's report said.