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Published on 8/10/2010 in the Prospect News Bank Loan Daily and Prospect News High Yield Daily.

Moody's lifts Carriage

Moody's Investors Service said it raised the speculative-grade liquidity rating of Carriage Services, Inc. to SGL-2 from SGL-3.

The SGL-2 rating indicates Moody's view that the company's liquidity profile should remain good over the near-term given expectations of orderly access to its long-term revolving credit facility, adequate cushion under its financial covenants, and the absence of volatility in cash flows, the agency said.

The following ratings remain unchanged: corporate family rating at B2; probability-of-default rating at B2; and $130 million of 7.875% senior unsecured notes due 2015 at B1 (LGD3, 37%).

The outlook remains stable.


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