Moody’s shifts Vector view to positive

Moody’s Investors Service said it revised its outlook for Vector Group Ltd. to positive from stable and affirmed its ratings, including the Ba3 rating on the company's senior secured notes due 2029 and the Caa1 rating on the senior unsecured notes due 2026.

“The rating affirmation and change in outlook reflect Moody's view that Vector's increasingly stable cash flow following the reduction of its dividend, improved market share, and very good liquidity, position Vector to continue to improve its balance sheet and operate the business with lower leverage. Moody's expects Vector to sustain adjusted debt to EBITDA around 4x over the next 12 to 18 months which is below the expected leverage level for its rating,” the agency said in a press release.

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