Moody's lifts IPS to stable

Moody's Investors Service said it changed the outlook for IPS Corp. to stable from negative. Concurrently, Moody's has affirmed all ratings, including the B3 corporate family and probability of default rating and the B1 rating on the first-lien credit facility.

The agency also affirmed the Caa2 rating on the $50 million subordinated notes due June 2014.

Moody's said the change in outlook to stable from negative reflects the expectation that a modest improvement in top line performance will lead to improved earnings over the next 12 months and that credit metrics will remain solidly in a range appropriate for its B3 rating.

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