Moody's lifts FiberVisions

Moody's Investors Service said it upgraded FiberVisions Corp.'s corporate family rating to B1 from B2, the ratings on its revolver and first-lien term loan to Ba3 and the rating on the second-lien term loan to B2.

The upgrade reflects the improvement in the company's financial metrics and substantial debt reduction over the past several years, the agency said.

The outlook is stable.

Affected ratings include the company's $20 million guaranteed senior secured first-lien revolving credit facility due 2011 to Ba3 (LGD3, 36%) from B1 (LGD3, 38%); $70 million guaranteed senior secured first-lien term loan due 2013 to Ba3 (LGD3, 36%) from B1 (LGD3, 38%); and $20 million guaranteed senior secured Second-lien term loan due 2013 to B2 (LGD5, 75%) from Caa1 (LGD5, 79%).

FiberVisions has reduced its leverage through expanding profits and paying down debt, the agency noted.

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