Moody’s changes Viant Medical view

Moody's Investors Service changed Viant Medical Holdings, Inc.'s outlook to positive from stable.

At the same time Moody's affirmed the Caa1 corporate family rating and Caa1-PD probability of default rating, the B3 rating of the company's senior secured first-lien credit facilities and the Caa3 rating of the second-lien term loan.

“The outlook revision reflects a material improvement of Viant's liquidity as the company now has access to substantially all of its $70 million revolving credit facility,” the agency said in a news release.

“The company paid its revolver outstanding amount as well as a portion of its second-lien term loan using the cash raised from a $120 million add-on to its existing senior secured first-lien term loan.

“Prior to this transaction, the company had little availability under its revolver.”

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