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Moody's: Interline to positive
Moody's Investors Service said it revised the outlook for Interline Brands, Inc. to positive from stable.
The agency also said it affirmed the company's B1 corporate family and probability of default ratings, along with the B2 rating on its 7% senior subordinated notes due in 2018.
The outlook change considers Interline's recurring revenue stream and strong cash flow generation through the recession, Moody's said, as well as expectations for operating margin improvement.
The company's exposure to the multi-family housing sector and large institutional facilities will continue providing top-line stability as demand for maintenance, repair and operations products is fairly protected from the cyclicality that has hurt other sectors in recent years, the agency said.
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