Moody's ups WebPros loan to B2, view now positive

Moody's Investors Service said it upgraded to B2 from B3 the instrument rating on the backed senior secured first-lien term loan and the backed senior secured first-lien revolving credit facility issued by Particle Investments Sarl (WebPros), the holding company for automation software provider WebPros.

Concurrently, the rating agency affirmed the B3 corporate family rating and the B3-PD probability of default rating of WebPros.

The outlook has been changed to positive from stable.

“The change in outlook largely reflects the strengthening in WebPros' operating performance since the LBO transaction last year leading to Moody's-adjusted leverage falling to below 6x and improved free cash flow levels,” said Luigi Bucci, Moody's lead analyst for WebPros, in a news release.

“At the same time, the upgrade of the first-lien credit facilities reflects the reduction in first-lien leverage supported by EBITDA improvements and debt repayments.”

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