Moody’s views EmployBridge negatively

Moody’s Investors Service said it changed its outlook for EmployBridge Holding Co.'s to negative from stable and affirmed the B2 ratings on the company and the B3 rating on its senior secured term loan B due 2028.

The negative outlook reflects an expectation of debt to EBITDA leverage persisting above 5x and limited free cash flow generation against the backdrop of weaker economic conditions, Moody’s said.

EmployBridge’s debt to EBITDA leverage for the 12-month period ended June 30 was 5.8x. Moody’s said it expects leverage to retreat to 5.2x by the end of the year and to around 5x by the end of 2024.

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