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Moody's lifts Williams Scotsman
Moody's Investors Service said it upgraded the corporate family rating of Williams Scotsman, Inc. to B1 from B2, the rating on the senior secured credit facility to B1 from B2 and the senior unsecured rating to B2 from B3.
The agency said that this rating action results from the company's strong operating performance and resulting leverage improvement and it concludes Moody's ratings review which began on Nov. 30.
The outlook is stable.
Moody's said Williams Scotsman's improved profitability since the IPO in September 2005 was a key driver for the CFR upgrade.
Moody's said its upgrade also recognizes the company's commitment to a more conservative leverage profile since the IPO.
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