Moody's cuts ManTech liquidity

Moody's Investors Service said it lowered the speculative-grade liquidity rating for ManTech International Corp. to SGL-2 from SGL-1 and revised its $200 million of guaranteed senior notes due 2018 to Ba2 (LGD4, 66%) from (LGD4, 68%).

The outlook is stable.

The revised liquidity rating stems from the near-term, April 2012, expiry of ManTech's revolving credit facility, the agency said. The company's commencement of an annual also somewhat diminishes the liquidity profile.

All other ratings for the company, including the Ba1 corporate family rating and the Ba2 senior debt rating, remain unchanged.

The SGL-2 speculative-grade liquidity rating still denotes a good liquidity profile as expected over the forward near-term rating horizon, the agency added.

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