Moody’s changes DH Services to positive

Moody's Investors Service said it affirmed the debt ratings of DH Services Luxembourg Sarl, including the B2 corporate family, the Ba3 senior secured ratings, and the Caa1 senior unsecured rating, and changed the outlook to positive from stable.

Moody’s said the positive outlook reflects strong order trends, which are expected to translate into meaningful revenue and earnings growth over the next 12 months.

It also incorporates DH Services’ growing backlog, which has increased markedly over the last few quarters (June 30, 2015 backlog was $1.2 billion, 68% higher than September 2014) along with expectations that DH Services’ credit profile will improve over the coming quarters.

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