Everforth Outlook Shifted Negative by Moody's

Moody's affirmed Everforth Inc.'s Ba2 corporate family rating but changed outlook from stable to negative due to weak credit metrics.
Outlook downgrade reflects debt‑to‑EBITDA expected above 4x in 2026, declining revenue and debt‑funded acquisitions including $290 million Quinnox deal.
Moody's projects 2026 revenue of ~$4 billion, free cash flow $250 million, cash $143 million and $160 million credit facility availability.
Rating could revert to stable if debt‑to‑EBITDA falls below 3.5x; downgrade risk remains if earnings decline or further leverage added.