Moody’s turns CPI Card view to stable

Moody’s Investors Service said it changed the outlook for CPI Card Group Inc.’s to stable from negative.

“The stable outlook reflects Moody’s expectations that revenues and earnings will continue to improve over the next 12 to 18 months and result in a strengthening of credit metrics. Moody’s also expects improvement in operating performance driven by continued card volume growth, while also benefiting from the conversion of dual-interface cards, which have higher average selling prices,” the agency said in a press release.

Moody’s also affirmed CPI Card’s Caa1 corporate family rating and Caa1-PD probability of default rating. Additionally, the agency affirmed the senior secured first-lien term loan’s Caa1 rating and B1 rating on the super senior term loan of CPI CG Inc. Moody’s speculative grade liquidity rating remains SGL-3.

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