Moody's upgrades 24-7 Intouch

Moody's Investors Service said it upgraded 24-7 Intouch Inc.'s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD, senior secured first-lien term loan and revolving credit facility ratings to B1 from B2, and senior secured second-lien term loan rating to Caa1 from Caa2.

"Today's rating action reflects improvement in Intouch's financial performance, good track record of deleveraging following acquisitions, and our view that the company's leverage will be sustained below 4.5x over the next 12-18 months," said Aziz Al Sammarai, a Moody's analyst, in a press release.

The outlook remains stable.

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