Moody's rates Genesys Cloud B2

Moody's Investors Service said it assigned new ratings to Genesys Cloud Services Holdings I, LLC with a corporate family rating of B2 and a probability of default rating of B2-PD. Concurrently, Moody's upgraded the ratings of the first-lien credit facility issued by the company's Genesys Cloud Services Holdings II, LLC subsidiary to B2 from B3. The CFR and PDR of Genesys II have been withdrawn.

The outlook is stable.

“The rating action was driven by Genesys' strong business results in FY22 (ending January) characterized by strong revenue and EBITDA which fueled deleveraging to just under 6x debt/EBITDA (Moody's adjusted) as well as Moody's expectations of continued operating momentum and very good liquidity over the coming 12-18 months,” the agency said in a press release.

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