Moody’s stabilizes EverCommerce view

Moody’s Investors Service said it revised its outlook for EverCommerce Solutions Inc. to stable from negative and affirmed the B1 ratings on the company and its senior secured first-lien credit facility, comprised of a term loan, with $544.5 million outstanding as of Sept. 30, and a $190 million revolver. The speculative grade liquidity rating remains at SGL-1.

“The revision of the outlook to stable from negative reflects EverCommerce's strong business performance in the first nine months of 2022, characterized by pro forma revenue growth (accounting for acquisitions) of 16.1%, driving Moody's expectation for debt/EBITDA to contract to below 5x in 2023,” the agency said in a press release.

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