Moody's: Agilysys outlook up to positive

Moody's Investors Service said it revised the outlook of Agilysys to positive from stable and affirmed the company's $60 million senior unsecured notes due August 2006 at Ba3 and $125 million convertible trust preferred securities due March 2028 at B2.

Moody's said the revised outlook reflects improvements in the company's leverage and interest coverage through a combination of debt reduction and increases to operating profit.

The outlook includes expectations that sustained profitability and working capital improvement should drive greater cash flow generation than previously expected, according to Moody's.

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