Moody’s ups First Advantage

Moody's Investors Service said it upgraded STG-Fairway Acquisitions, Inc.'s (First Advantage) corporate family rating to B2 from B3 and its probability of default rating to B2-PD from B3-PD.

Moody's also upgraded the ratings on the company's senior secured first lien credit facilities (revolver and term loan) to B1 from B2 and its senior secured second lien term loan to Caa1 from Caa2.

In explaining the upgrade, Moody’s cited “a solid track record of good topline and EBITDA growth,” that has reduced leverage.

The outlook remains stable.

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