Moody's upgrades RGIS

Moody's Investors Service said it upgraded RGIS Holdings, LLC's corporate family and probability of default ratings to B2 from B3, along with the rating on its senior secured first-lien credit facility to Ba3 from B1.

The outlook remains stable.

The upgrade reflects revenue and earnings growth, meaningful debt reduction and its good liquidity profile, Moody's said.

The ratings further reflect RGIS's leading market share in outsourced inventory verification services and long-standing relationships with its largest customers, the agency said.

The ratings are constrained by domestic pricing competition from smaller competitors and moderate customer concentration, Moody's added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.