Moody’s changes Internap view to negative

Moody’s Investors Service said it changed the outlook for Internap Corp. to negative from stable.

“The outlook change is based on the company’s weak organic revenue and EBITDA growth and limited visibility into the timing of any operational stabilization or positive top line inflection. There is a risk of continuing execution difficulties associated with improving sales force productivity and increasing capacity utilization across Internap’s data center portfolio,” said Moody’s in a press release.

The agency affirmed the B3 corporate family rate and its B3-PD probability of default. Moody’s also affirmed the B3 rating on Internap’s senior secured credit facilities.

© 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.