Moody's lifts Quanta Services

Moody's Investors Service said it upgraded Quanta Services, Inc.'s corporate family rating to Ba3 from B1, concluding the review that began on March 19.

The outlook is stable.

According to Moody's, the upgrade reflects the acquisition of Infrasource, reduced debt leverage, ample cash flow relative to debt and ongoing growth.

Moody's said it expects the company's debt-to-EBITDA to fall below 2.5 times at the end of this year.

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