Moody’s downgrades Skillsoft to Caa2 on high debt load, stabilizes outlook
Moody's downgraded Skillsoft's (NYSE:SKIL) rating to Caa2 from B3 due to high debt and operational issues, but revised its outlook to stable, citing improved liquidity. The company's leverage is high at 8x-9.5x on a cash/non-cash EBITDA basis, with $90M in cash and a $45M cost-cutting plan. Moody's expects near-term stability but warns of potential distress by 2028 debt maturities.