Moody's rates ELO Touch

Moody's Investors Service said it assigned ratings to the debt of ELO Touch Solutions, Inc.

The agency said it assigned a corporate family rating and probability of default rating of B2. The agency also assigned a B1 rating to the senior secured first lien credit facilities and a Caa1 rating to the senior secured second lien credit facility.

The outlook is stable.

Moody's said the B2 corporate family rating reflects ELO's high financial leverage given the cyclical demand, limited growth prospects due to ELO's small scale and mature segment focus and the execution risk of separating from TE Connectivity.

The agency said the stable outlook is supported by its expectation that ELO will generate at least low single digit revenue and EBITDA growth over the near term.

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