Moody’s raises ADS Tactical, notes

Moody's Investors Service said it upgraded the corporate family rating and probability of default rating of ADS Tactical, Inc. to B2 and B2-PD from B3 and B3-PD, respectively.

Concurrently, the agency upgraded the rating on the company's senior secured notes by one notch to B3 from Caa1.

The outlook was changed to stable from negative due to the improvement in the liquidity profile via the amendment to the company's revolving credit facility extending its maturity date.

Moody’s said the upgrades are based on the expectation that the company will sustain credit metrics appropriate for the higher ratings due to an improving core revenue and EBITDA stream with anticipation of moderate further growth stemming from the company's expanded vendor offerings in markets ranging from C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) to food products for the military.

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