Moody's ups AMG Critical Materials

Moody's Investors Service said it upgraded AMG Critical Materials NV's (formerly AMG Advanced Metallurgical Group NV) revolving credit facility maturing in 2026 and the term loan B maturing in 2028 to Ba2 from Ba3. The agency also raised the corporate family rating to B1 from B2 and its probability of default rating to B1-PD from B2-PD.

The speculative grade liquidity rating is maintained at SGL-2 and the outlook remains positive, Moody’s added.

"The ratings upgrade and maintaining the positive outlook reflects material strengthening in AMG's financial performance and credit metrics, as well as Moody's expectations that AMG will be able to maintain its improved credit profile following the completion of the key growth projects in the near term," said Botir Sharipov, a Moody’s vice president and senior credit officer, in a press release.

© 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.