Moody's upgrades Epiq

Moody's Investors Service said it upgraded DTI Holdco, Inc.'s (Epiq Global) corporate family rating to Caa1 from Caa2, probability of default rating to Caa1-PD from Caa2-PD and senior secured credit facility rating to Caa1 from Caa2.

“The upgrade reflects Moody's expectations for a gradual but accelerating recovery in demand for outsourced legal solutions over the course of 2021. Epiq has demonstrated sequential revenue and earnings growth over the last several quarters, leading to a meaningful reduction in financial leverage and improved liquidity profile,” the agency said in a press release.

Moody's said it forecasts Epiq’s debt to EBITDA will decline to below 7x over the next 12-18 months and that Epiq will maintain adequate liquidity over the same period.

The outlook is stable.

© 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.