Moody's changes VAT's outlook to positive; affirms Ba2 CFR

Moody's Investors Service said it changed the outlook for VAT Group AG to positive from stable and affirmed its Ba2 ratings. Moody’s does not rate VAT’s $300 million revolver or its CHF 300 million bond. Both mature in 2023.

“The positive outlook reflects Moody's expectation that VAT will maintain its strong market position, flexible cost structure and financial discipline supporting the retention of a strong credit profile, particularly through near-term industry downturns,” the agency said in a press release.

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