Moody’s ups Quality Home Brands, loans

Moody's Investors Service said it upgraded Quality Home Brands Holdings LLC's corporate family rating to B3 from Caa1 and probability of default rating to B3-PD from Caa1-PD.

At the same time, the rating on the company's $158 million first-lien senior secured term loan due 2018 was raised to B2 from B3 and the rating on the $70 million second-lien term loan due 2019 was raised to Caa1 from Caa2.

The outlook is stable.

Moody’s said the upgrade reflects Quality Home Brands’ improved operating trends, including growing revenues and earnings supported by the favorable end market conditions, and increased operating margins from cost efficiency initiatives, which together have resulted in the improvement of credit metrics toward levels appropriate for the B3 rating category.

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