Moody’s revises EIG Investors to positive

Moody's Investors Service said it affirmed EIG Investors Corp.'s credit ratings, including the B2 corporate family rating and the B2 rating for its first-lien credit facilities, and raised the speculative grade liquidity rating to SGL-2 from SGL-3.

The outlook was changed to positive from stable, reflecting expectation for a strengthening credit profile.

Moody’s said the positive outlook reflects its expectation for solid free cash flow relative to debt driven by strong revenue growth and declining non-recurring expenses. The agency expects EIG to achieve organic revenue growth of high single digits to the low teens percentages, driven by a combination of subscriber growth and increasing average revenues per subscriber.

Moody's estimates EIG should generate free cash flow in excess of 13% of total adjusted debt in 2015.

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