Moody's upgrades Certara

Moody's Investors Service said it upgraded Certara Holdco, Inc.'s corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD and senior secured credit facility rating to B1 from B2. The speculative grade liquidity rating of SGL-1 remains unchanged.

“The ratings upgrade reflects Moody's expectation that Certara will maintain improved credit metrics following very strong operating performance and debt repayments since its IPO in December 2020. Certara generated very high year-over-year revenue and management's adjusted EBITDA growth of 18% and 15%, respectively, for the nine months ended Sept. 30, 2021. The stellar performance was driven by growing biopharmaceutical R&D spend and increasing demand for biosimulation software and regulatory services,” the agency said in a press release.

The outlook is stable.

© 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.