Moody's may up Visiocorp

Moody's Investors Service said it placed under review for upgrade Visiocorp plc's Ca corporate family rating given its refinancing in May and stabilizing business outlook.

"While we see near-term upgrade potential into the low single-B category, an upgrade to this rating level during the first half of 2008 would require the receipt of audited financial statements for 2007," Rainer Neidnig, lead analyst at Moody's for Visiocorp, said in a written statement.

The agency said statements would have to document stabilization of business volume and operating performance, a debt-to-EBITDA ratio below 6 times and improving financial flexibility.

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