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Moody’s views Confluence negatively
Moody’s Investors Service said it revised its outlook for Confluence Technologies, Inc. to negative from stable and affirmed its ratings, including the B2 first-lien ratings and the senior secured second-lien term loan at Caa2.
“The negative outlook reflects Moody's concern that although Confluence's revenues and EBITDA are expected to increase (on an organic basis) moderately over the coming 12-18 months, resulting in deleveraging towards the low 9x level, rising interest expense will constrain free cash flow to nominal levels, pressuring the company's weakening liquidity profile,” the agency said in a press release.
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