Moody’s ups OmniMax, notes to Caa1

Moody's Investors Service said it upgraded OmniMax International, Inc. corporate family rating to Caa1 from Caa2, probability of default to Caa1-PD from Caa2-PD and $385 million senior secured notes to Caa1 (LGD3) from Caa2 (LGD3).

The outlook remains stable.

Moody’s said the upgrade reflects improved credit metrics driven by better operating performance, and the expectation that the company will benefit from the anticipated positive momentum in the commercial and residential end-markets.

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