Moody’s turns KLX outlook to positive

Moody’s Investors Service said it changed its outlook for KLX Energy Services Holdings, Inc. to positive from stable and affirmed its Caa1 ratings on the company and its senior secured notes. The speculative grade liquidity rating remains SGL-2.

"The change in KLXE's ratings outlook to positive reflects our expectation that KLXE will continue to build on the improved financial performance it has exhibited over the past year and that its ratings could be upgraded if its financial performance is maintained and its refinancing needs are addressed," said Jake Leiby, a Moody's senior analyst, in a press release.

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