Moody's lifts Wesco view to positive

Moody's Investors Service said it affirmed the ratings of Wesco International, Inc. and its subsidiary Wesco Distribution, Inc.

Moody's also changed Wesco's outlook to positive from stable based on its improved operating performance and declining debt and Moody's expectation that performance will continue to improve over the near to intermediate term.

Specifically, Moody's affirmed the B2 ratings on both Wesco's guaranteed senior convertible debentures due 2025 and Wesco Distribution, Inc.'s guaranteed senior subordinated notes due 2017, and Wesco's Ba3 corporate family rating.

Moody's said the ratings and outlook include improving operating performance resulting in credit metrics beginning to exceed the company's Ba3 corporate family rating and high financial leverage after securitization and lease adjustments.

The change in outlook to positive from stable reflects Moody's expectation that operating performance should continue to improve and excess free cash flow will be applied to further debt reduction.

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