Moody’s upgrades Logan

Moody’s Investors Service said it upgraded Logan Group Co. Ltd.’s corporate family rating to Ba2 from Ba3. Moody’s also upgraded the senior unsecured debt rating on Logan’s notes to Ba3 from B1. The agency also revised Logan’s outlook to stable from positive.

“The upgrade reflects our expectation that Logan’s credit metrics will improve over the next 12-18 months, driven by its strong revenue growth and controlled debt increase,” said Cedric Lai, a Moody’s vice president and senior analyst, in a press release.

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