Moody's upgrades Perimeter Solutions

Moody's Investors Service said it upgraded SK Invictus Intermediate II Sarl's (Perimeter Solutions) corporate family rating to B2 from B3 and probability of default rating to B2-PD from B3-PD. Moody's also upgraded Perimeter’s first-lien senior secured credit facility to B1 from B2 and second-lien senior secured term loan to Caa1 from Caa2.

"The upgrade reflects significantly improved credit metrics following better-than-expected performance in both the fire safety and oil additives businesses and expectations for more normalized earnings and cash flow generation over the rating horizon," said Domenick R. Fumai, a Moody's vice president and lead analyst for Perimeter, in a press release.

The outlook is stable.

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