Moody’s revises Virtus view to positive

Moody’s Investors Service said it affirmed the Ba2 corporate family rating and Ba2-PD probability of default ratings of Virtus Investment Partners, Inc. and also changed the outlook to positive from stable.

“The positive outlook on Virtus’ ratings reflects its improved operating performance and the balanced use of capital to delever and make investments towards growth initiatives. Recent acquisitions have contributed meaningful flows into the business and expanded revenues; and the company has used the additional cash flows to reduce leverage to 1.5x debt-to-EBITDA, as adjusted by Moody’s,” the agency said in a press release.

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