Moody’s stabilizes Galaxy Finco view

Moody’s Investors Service said it revised its outlook for Galaxy Finco Ltd. (D&G) to stable from negative and affirmed its B2 ratings. The agency also affirmed the Caa1 rating on its senior unsecured notes and B2 rating on its senior secured notes issued through its subsidiary Galaxy Bidco Ltd.

“The change in outlook to stable reflects improving leverage as D&G's profitability and cashflow benefits from business growth and operating efficiencies arising from its digital transformation initiatives and growing subscription revenues,” Moody’s said in a press release.

The agency noted the company cut its adjusted net debt-to-EBITDA leverage to 5.7x at Dec. 31 from 6.1x on the same basis at March 31.

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