They're delaying their audited financial statements? THAT concerns me more than anything I've heard from the store owner. Once the auditors flinch giving the audit, you're in reall bad shape, ouch.
Now I have nightmares of Fender buying Gibson!!!
Yep, the delay of the financial statements is a big red flag. Along with the loss of revolving credit. I don't believe the other rumors (except that Peavey might be interested) but Moody's evaluation is something you can't take lightly.
Fender has bought a number of troubled companies, but they may not be in a position to in this economy, especially one this big. Unless Korg ups its stake in Fender.
OTOH if there's a real problem and creditors wind up taking control, anything could happen. Can you see Gibson becoming part of a Chinese or Indian conglomerate?