Moody’s ups CACI International

Moody’s Investors Service said it upgraded most of its ratings for CACI International, Inc., including the company’s corporate family rating to Ba1, from Ba2 and probability of default rating to Ba1-PD, from Ba2-PD and the ratings for the company’s senior secured first-lien debt to Ba1, from Ba2. The company’s SGL-2 speculative grade liquidity rating remains unchanged, and the outlook is stable.

“CACI’s record of good contract execution, coupled with the application of free cash flow towards M&A over many years, has expanded its addressable market well beyond Army operational support and given it access to more complex/higher technology programs, enhancing the company’s resilience and importance as a defense services contractor,” said Bruce Herskovics, Moody’s lead analyst for CACI.

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