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Moody's rates Altegrity loan B1, view stable
Moody's Investors Service said it raised the outlook on Altegrity, Inc. to stable from negative.
The agency said it also assigned a B1 rating to the company's new $75 million revolver and withdrew the rating on the redeemed $90 million revolver.
Additionally, the agency said it upgraded the senior unsecured notes ratings to Caa1, reflecting significantly less secured debt ahead of the notes as a result of recent term loan repayments, from Caa2.
All other ratings, including the B3 corporate family rating, were affirmed.
"The change in outlook to stable from negative reflects positive revenue growth trends in Altegrity's commercial businesses, which we believe will drive higher consolidated earnings in fiscal 2013 than originally anticipated," said Moody's analyst Suzanne Wingo in a news release.
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