Moody's ups Booz Allen Hamilton

Moody's Investors Service said it upgraded its ratings for Booz Allen Hamilton Inc., including the company's corporate family rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD, and the senior secured bank facility ratings to Baa3 from Ba1 and senior unsecured bond ratings to Ba2 from B1.

The agency also upgraded the speculative grade liquidity rating to SGL-1 from SGL-2 and the outlook remains positive.

"The upgrade of the corporate family rating to Ba1, with a continuing positive rating outlook, reflects discernible progress from Booz Allen Hamilton's business strategy in recent years, with outsized organic growth via market share gains and sustainment of competitive scale within a consolidating defense services market,” said Bruce Herskovics, Moody’s lead analyst for Booz Allen Hamilton, in a press release.

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