Moody’s ups Optimas, notes

Moody's Investors Service said it upgraded Optimas OE Solutions Holding, LLC's corporate family rating to B3 from Caa1 and probability of default rating to B3-PD from Caa1-PD, because the agency projects financial performance and key debt credit metrics improving over the next 12 to 18 months.

In related actions, Moody's upgraded Optimas' senior secured notes to Caa1 from Caa2.

The outlook is stable.

The upgrade of the corporate family rating results from the agency’s expectations of improved credit metrics, due to a combination of higher revenues and better operating margins due to headcount reduction and facilities consolidation.

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