Moody's lifts Carey to B3

Moody's Investors Service said it upgraded the corporate family rating of Carey International, Inc. to B3 from Caa2 based on the expectation of a new capital structure and a refinancing of the debt that will provide the company with financial flexibility.

Simultaneous with the execution of this new capital structure, the corporate family rating and the ratings on the existing bank debt will be withdrawn.

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