Moody’s ups ServiceMaster, debt

Moody's Investors Service said it upgraded ServiceMaster Co., LLC's corporate family rating to Ba3 from B1, probability of default rating to Ba3-PD from B1-PD, senior secured bank debt to Ba3 from B1 and the senior unsecured to B2 from B3.

The speculative grade liquidity rating was affirmed at SGL-1.

The outlook remains positive.

Moody’s said the Ba3 corporate family rating reflects its expectations for about 5% revenue growth, steady low 20s% EBITA margins and debt to EBITDA to decline to around 4 times by the end of 2017.

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