Moody's: Avaya unchanged

Moody's Investors Service said Avaya, Inc.'s (B3/stable) planned initial public offering, possibly for up to $1 billion of primary equity, would have positive credit implications; however, Avaya's financial leverage levels would likely remain very high post the equity offering.

While the equity proceeds should result in permanent debt reduction, the paydown alone is likely not sufficient to lift the ratings at this time, the agency said.

© 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.