Moody’s ups INC Research, notes, loans

Moody's Investors Service said it upgraded the corporate family rating of INC Research, LLC to B1 from B2 and the probability of default rating to B1-PD from B2-PD.

The outlook is positive.

The agency also upgraded the ratings of INC's existing 2011 credit facility to Ba2 from Ba3 and upgraded the 11˝% unsecured bonds to B3 from Caa1.

INC is in the process of a refinancing transaction that will replace the 2011 credit facility with a new revolver and term loan. Moody's expects to withdraw the ratings on the 2011 credit facility at the close of this refinancing transaction.

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