Moody's upgrades Alorica

Moody's Investors Service said it upgraded Alorica Inc.'s first-lien senior secured credit facility to Caa1 from Caa3, including revolving credit facility, term loan A and term loan B. Concurrently, Moody's raised the company's corporate family rating to Caa1 from Caa3 and its probability of default rating to Caa1-PD from Caa3-PD. The agency changed the outlook to stable from negative.

Moody's will withdraw all of Alorica Inc.'s ratings, including its CFR, PDR and instrument-level ratings, because the rated debt has been retired

This rating action follows the reported completion of a recapitalization on Dec. 11, 2020 that raised $750 million of new preferred and debt capital committed by Apollo Global Management, Inc., Moody’s said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.