Moody’s changes Engility to stable

Moody's Investors Service said it changed the outlook of Engility Corp. to stable from negative and concurrently affirmed all ratings, including the corporate family rating of B2.

Moody’s said the outlook change reflects rising backlog and a supportive U.S. defense/intelligence agency budget setting.

Although organic revenues continue declining for Engility, the rate of decline has lessened and should flatten near-term, the agency noted. In 2016, organic revenues declined about 7%, Q1-2017 revenues declined about 5% year-over-year.

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