Moody's confirms Select Staffing

Moody's Investors Service said it confirmed Koosharem Corp.'s (dba Select Staffing) B2 corporate family rating, the B1 rating on its first-lien senior secured credit facilities, and the Caa1 rating on its second-lien term loan.

The outlook is negative.

The rating confirmations reflect Moody's belief that Select's credit metrics are still broadly appropriate for the B2 corporate family rating category and the likelihood of improved free cash flow in 2008, following the negative amount that was recorded the prior year.

However, the negative outlook reflects Moody's concern that a weak economy will continue to pressure the company's sales, particularly as many of its corporate customers reduce the level of temporary staffing.

Moody's noted that the company's acquisition activity that has resulted in increased debt levels.

© 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.