Moody's affirms DynCorp, ups loan, notes

Moody's Investors Service said it affirmed DynCorp International LLC's corporate family rating of B1 and revised the company's senior secured bank facilities to Ba1 from Ba2 as well as the company's senior subordinated notes to B2 from B3.

Moody's said that the actions follow modification to the company's refinancing program in which an existing term loan will be paid-off, a new revolving credit facility will be arranged with a longer maturity and increased commitment level and a subordinated note issue will be increased by $125 million.

The outlook remains positive.

On June 24, Moody's said it assigned ratings to a planned $200 million term loan and a $250 million revolving credit and since that time, the proposed financing has been modified.

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