Moody's: Pacer up to positive

Moody's Investors Service said it confirmed the ratings of Pacer International Inc. (senior implied B1) and changed the company's outlook to positive from stable.

Moody's confirmed Pacer's B1 rated senior secured term loan due 2010 and senior secured revolving credit facility due 2008 and B2 senior unsecured issuer rating.

Moody's said the change in outlook was prompted by recent improvements in Pacer's operating results, as well as expectations of continued favorable financial performance due to the overall strength in the intermodal rail sector.

The positive rating outlook considers the potential for the company to further reduce debt through robust cash flow generation, according to Moody's.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.