Moody’s eyes SolarWinds for downgrade

Moody’s Investors Service said it placed all its SolarWinds Holdings, Inc. ratings, including the B1 corporate family rating, under review for downgrade.

The decision follows SolarWinds’ announcement hackers inserted a vulnerability within its Orion monitoring products. SolarWinds also reported the vulnerability was inserted within the Orion products and was in updates released between March and June 2020, Moody’s said.

SolarWinds said it hired third-party cybersecurity experts to help investigate and develop mitigation and remediation plans. The company is cooperating with government agencies in investigations relating to the cyberattack, Moody’s said.

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