Moody’s revises Quorum to stable

Moody's Investors Service said it changed the outlook for QBS Holding Co., Inc. (Quorum) to stable from negative and affirmed its B3 corporate family rating, Caa1-PD probability of default rating and the B3 instrument ratings on its senior secured first-lien term loan and revolving credit facilities.

Moody’s said the revised outlook reflects the relative strengthening and stabilization of the oil and gas markets, which enabled Quorum’s customers to resume investments in new ERP systems and in upgrades of existing software that they had delayed undertaking during most of 2016 because of high uncertainty in the energy markets.

Fourth-quarter operating strength continued into the first quarter of 2017, and the agency said it expects Quorum to have flat to slightly improved revenues, about $90 million, for the full year.

© 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.