Moody’s trims Speedcast

Moody's Investors Service said it downgraded to B1 from Ba3 Speedcast International Ltd.'s corporate family rating and senior secured term loan rating.

The outlook remains negative.

“The ratings downgrade mainly reflects Speedcast's elevated debt leverage and reduced liquidity, because of its weaker-than-expected earnings and cash flow generation,” Sean Hwang, Moody's analyst, said in a news release.

“While we expect Speedcast to improve its earnings and deleverage over the next 12-18 months, the continued negative outlook reflects a degree of uncertainty over such improvements.”

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