Moody’s ups Vivint after being acquired

Moody's Investors Service said it upgraded the debt ratings of Vivint Smart Home, Inc.'s primary debt issuing subsidiary APX Group, Inc. following the financial closing of its acquisition by NRG Energy, Inc. Moody's upgraded APX's term loan B and senior secured notes to Ba2 from B1 and APX's senior unsecured notes to Ba3 from Caa1. The outlook of APX is stable.

The agency withdrew Vivint's B2 corporate family rating, B2-PD probability of default rating, and SGL-2 speculative grade liquidity rating.

“This concludes the review of Vivint and APX's rating initiated in December when NRG announced the Vivint acquisition,” Moody’s said in a press release.

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