Moody’s trims LSF9 Atlantis

Moody's Investors Service said it downgraded the corporate family rating of LSF9 Atlantis Holdings, LLC (A2Z Wireless/Victra) to B2 from B1.

Moody's additionally downgraded the company's probability of default rating to B2-PD from B1-PD, as well as the rating on the company's first-lien senior secured term loan to B2 from B1.

The outlook is stable.

"The elongation of the upgrade cycle, traffic declines and reductions in wireless activations have pressured EBITDA generation, with leverage expected to be maintained over 5 times, a level more consistent with the B2 rating," Moody's analyst Adam McLaren said in a news 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.