Moody’s turns Skillsoft view to stable

Moody’s Investors Service said it changed its outlook for Skillsoft Finance II Inc. to stable from positive and affirmed the B2 ratings on the company and its senior secured term loan.

“The change of outlook to stable from positive reflects the company's sale of SumTotal (for net proceeds of approximately $175 million), and uncertainty regarding the usage of proceeds. The outlook change also reflects challenges to the company's operating results, primarily to the Global Knowledge business, and the potential impacts of continued macroeconomic uncertainty,” Moody’s said in a press release.

The agency said it forecasts Skillsoft’s leverage to remain within the 5x to 6x range in the next 12-18 months.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.