Moody’s changes Trico view to positive

Moody's Investors Service said it changed the outlook to positive and affirmed the ratings of Trico Group, LLC including the B3 corporate family rating and senior secured rating, and B3-PD probability of default rating.

The positive outlook reflects Moody's expectation Trico will continue to pursue cost-saving initiatives amidst softening industry conditions in 2020 to support EBITA margins in the mid-teens range and sustain debt/EBITDA below 5x absent any further debt-funded acquisitions or shareholder returns, the agency said.

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