Moody's: Exova view positive

Moody's Investors Service said it has changed Exova Holdings Ltd.'s outlook to positive from stable.

Concurrently, Moody's said it has affirmed the company's B3 corporate family rating , B3-PD probability of default rating and the Caa1 rating on the £155 million senior unsecured notes due 2018.

The rating action reflects Exova's improving financial profile resulting from positive organic sales growth coupled with the company's cost saving initiatives, the agency stated.

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