Moody's boosts Anteon International

Moody's Investors Service said it upgraded ratings on Anteon International Corp. one notch, with both the corporate family rating and the rating on the $200 million senior secured revolving credit facility due 2008 moving to Ba2 from Ba3.

The outlook has been changed to stable.

The agency said it also upgraded the senior unsecured issuer rating to Ba3 from B1, reflecting Anteon's strong financial performance over the last two years that continues to benefit from United States government spending on defense and homeland security and increased trends toward government outsourcing of information technology and other services.

The ratings benefit from Anteon's diverse customer base of over 800 active contracts at more than 50 US government agencies, Moody's said, though the ratings are limited by its history of acquisitions and the expectation that future acquisitions will likely increase leverage, the company's modest size relative to its larger industry competitors and participation in the highly competitive market for information technology services in which capital requirements are limited and barriers to entry low.

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