Moody’s could lift Corporate Risk

Moody's Investors Service said it placed the ratings of Corporate Risk Holdings, LLC, including its Caa2 corporate family rating, Caa3-PD probability of default rating and the ratings assigned to its debt instruments, under review for upgrade.

The review follows Corporate Risk's recent announcement that it is selling its eDiscovery and data solutions business, Kroll Ontrack, to LDiscovery, LLC in an all-cash transaction valued at about $410 million.

The proposed transaction, which Moody's expects to be completed by December, will allow Corporate Risk to reduce its debt burden, improve its credit metrics and strengthen its liquidity profile while turning its focus toward a high margin pre-employment screening business and Kroll advisory with better growth prospects, the agency said.

© 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.