Moody's upgrades Janus

Moody's Investors Service said it upgraded Janus International Group, LLC's corporate family rating to B1 from B2, its probability of default rating to B1-PD from B2-PD and its secured term loan to B1 from B2. The company's speculative grade liquidity rating remains SGL-2.

“The upgrade of Janus' CFR to B1 from B2 results from Moody's expectation that Janus will continue to perform well and maintain low leverage, with adjusted debt to EBITDA sustained below 3x over the next two years. In addition, the company has remediated two of the four material weaknesses in its internal controls previously identified since its initial public offering in June 2021,” the agency said in a statement.

The outlook is stable.

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