Moody's ups Quality Distribution CFR

Moody's Investors Service said it upgraded Quality Distribution, LLC's corporate family rating to B2 from B3 and probability of default rating to B2-PD from B3-PD.

At the same time, Moody's affirmed the B3 rating on the $225 million 9 7/8% second-lien notes due 2018 and the SGL-3 speculative grade liquidity rating.

The outlook was revised to stable from positive.

Moody's said the upgrade of Quality's corporate family rating to B2 was largely driven by the expectation that credit metrics will improve over the next 12 to 18 months, through a combination of EBITDA growth and debt paydowns, to levels consistent with the B2 rating level.

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