Moody's ups Donnelley Financial notes to B2

Moody’s Investors Service said it upgraded Donnelley Financial Solutions Inc.’s senior unsecured notes rating to B2 from B3.

“The upgrade of the senior unsecured notes reflects the sizable decrease in secured debt ranking ahead of them in the capital structure,” said Peter Adu, Moody’s vice president and senior analyst, in a press release.

Moody’s also downgraded the company's speculative grade liquidity rating to SGL-3 from SGL-1.

The agency affirmed Donnelley’s B1 corporate family rating, B1-PD probability of default rating, Ba2 ratings on its senior secured revolving credit facility and senior secured term loan B.

The outlook remains stable.

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