Moody's: Syniverse to positive

Moody's Investors Service said it changed the outlook for Syniverse Holdings Inc. to positive from stable based on the company's strong financial performance, improving credit metrics and good liquidity profile.

The agency also said it affirmed Syniverse's B2 corporate family rating.

The positive outlook also reflects Syniverse's continued strong operating performance, which has allowed the company to modestly de-lever following its leveraged buyout in December 2010, Moody's said.

These strong quantitative metrics are offset by rapid technological changes, which lead to a decline in transaction volumes and revenues, along with the pressure to lower transaction rates for customers upon contract renewal, 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.