Moody's upgrades RBS Global

Moody's Investors Service said it upgraded RBS Global, Inc.'s corporate family and probability of default ratings to B2 from B3, senior secured credit facilities to Ba2 from Ba3, senior unsecured notes to B3 from Caa1 and speculative grade liquidity rating to SGL-1 from SGL-2.

The outlook is stable.

Moody's said the ratings are supported by the company's proven ability to generate positive free cash flow, very good liquidity, expectation for additional deleveraging due primarily to the anticipated performance for its process and motion control segment and a good debt maturity profile.

© 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.