Moody’s upgrades Verisure, notes

Moody's Investors Service said it upgraded Verisure Holding AB’s corporate family rating to B2 from B3 and probability of default rating to B2-PD from B3-PD.

At the same time, the agency upgraded the €700 million series A senior secured notes due 2018 to B1 from B2 and the €271.5 million series B senior secured notes due 2018 to B3 from Caa1.

The outlooks are positive.

"The upgrade to B2 reflects the company's strong performance since the secondary buyout in 2011," Martin Hallmark, Moody’s vice president and senior analyst for Verisure, said in a news release. "Looking at performance metrics on a steady-state basis shows there is a very resilient and cash-generative portfolio which supports the company's growth."

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