Moody's changes Technicolor view to positive

Moody's Investors Service said it affirmed the Caa2 corporate family rating and Caa2-PD probability of default rating of Technicolor SA and upgraded the rating of Technicolor SA's $141.5 million and €453.6 million senior secured bank credit facilities to Caa3 from Ca.

At the same time Moody's affirmed the Caa1 rating of the $119.8 million senior secured term loan raised by Technicolor USA, Inc. and the €349.7 million guaranteed senior secured notes raised by Tech 6.

The outlook on all ratings of Technicolor, Technicolor USA, Inc. and Tech 6 has been changed to positive from stable.

“Today's change of the outlook to positive and the affirmation of Technicolor's Caa2 CFR and Caa2-PD PDR recognizes recent improvement in the company's financial performance with increased profitability and rapid deleveraging despite a challenging market environment,” Moody’s said in a news release.

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