Moody’s upgrades Kratos

Moody’s Investors Service said it upgraded its ratings for Kratos Defense & Security Solutions, Inc., including the company’s corporate family rating and senior secured notes ratings to B1 from B2 and its probability of default rating to B1-PD, from B2-PD.

The company’s speculative grade liquidity rating has been upgraded to SGL-1, from SGL-2.

“The upgrade reflects Kratos’ ability and willingness to issue equity and retain the cash proceeds on its balance sheet, helping sustain developmental activities on the company’s many unmanned aerial platform programs – any of one of which could culminate in a production award and substantially higher backlog,” said Bruce Herskovics, Moody’s lead analyst for Kratos, in a press release.

The outlook remains stable.

© 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.