Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for EAB Global, Inc. > News item |
Moody's lowers EAB Global view to stable
Moody's Investors Service said it affirmed EAB Global, Inc.'s B3 corporate family rating, B3-PD probability of default rating and the B2 (LGD 3) ratings on the company's existing first-lien term loan and revolver.
The outlook was revised to stable from positive, reflecting EAB's slower-than-anticipated realization of cost synergies and weaker than expected profitability since its emergence as a stand-alone business entity, the agency explained.
The ratings are constrained by the company's significant pro forma debt leverage of more than 10x as of March 31, Moody's said.
EAB's relatively small revenue base, nascent history as a standalone operating entity and risks associated with the implementation of sizable operational restructuring initiatives add uncertainty to the company's credit profile, the agency said.
The ratings are supported by the company's strong market position as a provider of research, software and technology-enabled services to a diversified customer base of universities and other educational institutions, Moody's said.
© 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.