Moody's elevates KBR

Moody's Investors Service said it upgraded the ratings of KBR, Inc., including the corporate family rating to Ba2 from Ba3, the probability of default to Ba2-PD from Ba3-PD and the senior unsecured notes to Ba3 from B1.

Moody's also affirmed the senior secured credit facility rating of Ba1.

Concurrently Moody's downgraded the speculative grade liquidity rating to SGL-2 from SGL-1 and changed the outlook to stable from positive.

“The upgrade of the CFR follows continued organic revenue and backlog growth of KBR's government services segment along with KBR's rising scale, technical capabilities and revenue diversity,” Moody’s said in a news release.

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