Moody’s alters Numotion view to stable

Moody’s Investors Service said it revised its outlook for NMN Holdings III Corp. (Numotion) to stable from negative and affirmed its B3 ratings and the B2 ratings on its backed senior secured first-lien revolving credit facility, backed senior secured first-lien term loan and backed senior secured first-lien delayed-draw term loan.

“Numotion continues to see strong order demand given the essential nature of its products to its clients. Numotion has not only been able to convert its backlog, but the backlog has continued to grow as demand volumes increased. While the company still faces some inflationary pressures, including rising interest rates, labor pressures have stabilized and many of the supply chain challenges the company endured in 2022 have eased,” Moody’s said in a press release.

The stronger outlook incorporates a forecast for mid-single-digit earnings growth, moderate financial leverage and an enhanced liquidity profile, the agency explained.

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