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Moody's upgrades C&D Technologies
Moody's Investors Service said it upgraded C&D Technologies, Inc.’s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD and senior secured rating to B2 from B3.
The upgrade reflects the company's growing scale, improving profitability, and lower debt to EBITDA, the agency said.
"C&D Technologies' pricing power has resulted in lower financial leverage that reduces the company's refinancing risk," said Brian Silver, a Moody's vice president and senior analyst, in a press release.
The outlook is stable.
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