Moody's assigns Ba1 to FTI Consulting revolver

Moody's Investors Service said it affirmed FTI Consulting, Inc.'s corporate family rating at Ba1 and probability of default rating at Ba1-PD.

Moody's also assigned a Ba1 rating to FTI's senior secured revolving credit facility expiring 2027.

The speculative-grade liquidity rating is unchanged at SGL-1. The outlook remains stable.

Moody's said it expects that FTI's 2% convertible senior notes due Aug. 15, 2023 will be repaid in full at maturity. The Ba2 notes rating will be withdrawn once they are no longer outstanding.

“The affirmation of the Ba1 CFR reflects Moody's anticipation for mid-single-digit constant currency revenue growth, especially in its counter-cyclical restructuring business, moderate debt to EBITDA around 1.5 times over the next 12 to 18 months and about 2.5 times throughout business cycles and a very good liquidity profile.

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