Moody’s trims Intrado

Moody’s Investors Service said it downgraded Intrado Corp.’s corporate family rating to B3, from B2, probability of default rating to B3-PD, from B2-PD, senior secured ratings to B2, from B1 and the ratings for senior unsecured notes to Caa2, from Caa1. Intrado was formerly known as West Corp.

“Intrado’s revenues and EBITDA will remain under pressure in 2020 and the sustainability of Intrado’s capital structure will ultimately depend upon the company’s ability to effectively execute its Unified Communications as a Service (UCaaS) growth strategy,” said Raj Joshi, a Moody’s analyst in a press release.

“The ratings downgrade reflects Moody’s view that Intrado’s EBTIDA and cash generation will decline over at least the next 12 months,” Moody’s said.

The outlook is stable.

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