Moody's ups Dynatrace, rates loan Ba2

Moody's Investors Service said it upgraded Dynatrace LLC's corporate family rating to Ba2 from Ba3 and probability of default rating to Ba2-PD from Ba3-PD. Concurrently, the agency assigned a Ba2 rating on the company's new senior secured revolving credit facility. The SGL-1 speculative grade liquidity rating is unchanged.

“The rating upgrade reflects Dynatrace's improved scale and continued debt reduction from strong free cash flow generation. This is partly tempered by the lack of a clear financial policy going forward and the presumed desire to maintain flexibility to pursue capability-enhancing acquisitions,” Moody’s said in a press release.

The outlook remains stable.

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