 Todays ratings downgrade reflects Lifetime Brands high financial leverage with debtEBITDA at around 5.8x for the fiscal year-end period December 31, 2019, and Moodys expectation that headwinds stemming from the coronavirus outbreak will keep leverage elevated over the next 12-18 months. Many of Lifetime Brands products are discretionary in nature and subject to competition from private label and lower priced offerings, and will be negatively affected by reduced consumer spending. 