Moody’s ups Help/Systems, facilities

Moody's Investors Service said it upgraded HS Group Holdings, Inc.'s (Help/Systems Holdings Inc.) corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD, first-lien senior secured credit facility (revolver and term loan) to B1 from B2 and second-lien senior secured term loan to Caa1 from Caa2.

The outlook is stable.

Moody’s said the upgrade reflects Help/Systems' track record of good topline and EBITDA growth and steady deleveraging since the 2015 leveraged buyout by H.I.G., as well as Moody's expectation that the company's credit metrics will continue to strengthen over the next 12 to 18 months.

The company reduced its debt-to-EBITDA (Moody's adjusted and incorporating earnings from recent acquisitions) to about 6 times as of the 12 months ended June 30 from about 7 times following the initial rating assignment in September 2015.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.