Moody's affirms AIS Acquisition

Moody's Investors Service said it affirmed the ratings AIS Acquisition Corp., a subsidiary of Overwatch Systems, LLC, corporate family rating and senior credit facility of B2, on the company's announcement that it will amend and increase the size of its term loan facility to fund a planned acquisition.

The outlook is stable.

Moody's noted that the ratings continue to reflect Overwatch's high debt levels relative to a small revenue base, reliance on a limited number of products concentrated predominantly in programs at the Department of Defense and intelligence agencies, a short history under current management and integration risk associated with acquisitions.

Ratings positively consider the company's ability to grow its revenue base from acquisitions, the strength of the current environment related to intelligence technology, adequate liquidity and capital support from equity sponsors, the agency added.

© 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.