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Moody's: DigitalGlobe view stable
Moody's Investors Service said it changed the outlook of DigitalGlobe Inc. to stable from negative following the announcement that DigitalGlobe will acquire GeoEye, Inc. for cash, stock and assumption of debt, which will be refinanced at closing.
The company's Ba3 corporate family rating, B1 probability of default rating and Ba3 senior secured bank credit facility ratings remain unchanged.
Moody's said it views the transaction as credit-positive for both companies, as the combination stands to rationalize redundant satellite imagery capacity while minimizing the risk of future contract renewals by the National Geospatial-Intelligence Agency.
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