Moody's boosts UCI

Moody's Investors Service said it raised the ratings of UCI International, Inc., including the corporate family and probability of default, to B2 from Caa1.

According to the agency, UCI is the ultimate parent of United Components, Inc., and this action follows the execution of the new senior secured bank credit facilities and completes the review initiated on Sept. 2.

In a related action, Moody's said it also raised the rating of UCI's unguaranteed senior unsecured notes, to Caa1 from Caa3. The outlook is stable.

The raising of UCI's corporate family rating to B2 reflects the enhanced credit profile following the company's refinancing of its existing credit facilities, the agency added.

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