Moody’s changes Radiate view

Moody's Investors Service said it confirmed Radiate Holdco, LLC's B2 corporate family rating and B2-PD probability of default rating, previously under review.

The agency also confirmed all instrument ratings, including the B1-LGD3 senior secured bank credit facility and Caa1-LGD6 senior unsecured notes.

The outlook was changed to stable from under review.

Moody’s said Radiate's corporate family rating reflects the company's small scale, weak free cash flow and private equity ownership which poses event risk and tolerates aggressive financial policies including high leverage (between 6.0x-6.7x over the next 12-18 months).

© 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.