S&P changes Sterling Midco view to stable

Moody’s Investors Service said it changed the outlook to stable from negative and affirmed Sterling Midco Holdings, Inc.’s B3 corporate family rating, B3-PD probability of default rating and its B3 rating for its first lien senior secured credit facility.

“The affirmation of Sterling’s ratings and stable outlook reflect the stabilization of background screening volumes and Moody’s expectation that the hiring trends will begin to normalize over the next several quarters such that Sterling’s revenue and earnings will recover meaningfully from the steep declines caused by the Covid-19 pandemic,” Moody’s said in a press release.

© 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.