Moody's turns Avalign outlook to stable

Moody's Investors Service said it changed Avalign Holdings Inc.'s outlook to stable from negative. At the same time, the agency affirmed the company's B3 corporate family rating, B3-PD probability of default rating and the B2 ratings of the senior secured first-lien term loan and revolving credit facility.

“The change of outlook to stable reflects Moody's expectations of the recovery in demand for the company's products, after a small decline in 2020 due to the coronavirus pandemic, will be sustained over the near-to-intermediate term. The stabilization of the outlook further reflects the resilience of the company's profit margin even during the pandemic due to the management's cost control initiatives,” the agency said in a press release.

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