Moody’s rates Syniverse revolver B3

Moody's Investors Service said it assigned a B3 rating to Syniverse Holdings, Inc.'s new revolving credit facility, in line with the existing secured debt ratings.

The new revolver replaces an existing one set to expire later this month.

“Along with an extension to its revolving facility, the company also benefits from a favorable amendment to the company's existing credit agreement which increases the level of senior secured leverage permitted under its financial maintenance covenant,” Moody’s said in a news release.

“Offsetting this positive development, the size of the revolver was reduced to $85.6 million from $150 million.”

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