Moody's: Omnitracs view to negative

Moody's Investors Service said it revised Omnitracs Inc.'s outlook to negative from stable and affirmed the company's B2 corporate family rating and B2-PD probability of default rating.

The agency also affirmed the B1 ratings on the upsized first-lien debt facilities and affirmed the Caa1 rating on the upsized second-lien facilities.

The change in outlook to negative was driven by the debt-financed acquisition of Roadnet Holdings Corp. shortly after private equity firm Vista Equity Partners acquired Omnitracs, Moody's said.

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