Moody’s lifts Safe-Guard

Moody's Investors Service said it upgraded the corporate family rating of SG Acquisition Inc. (Safe-Guard) to B2 from B3, and its probability of default rating to B2-PD from B3-PD.

The agency affirmed Safe-Guard's B1 first-lien revolver and term loan and its Caa1 second-lien term loan.

The outlook is stable.

“The upgrade of the corporate family rating reflects Safe-Guard's improved financial profile, good business position as a leading provider of finance and warranty insurance (F&I) products in the automotive aftermarket industry, its ability to retain and expand its customer base, and its growing revenues, EBITDA and free cash flow,” the agency said in a news release.

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