Moody’s revises Exactech view to stable

Moody’s Investors Service said it revised Exactech, Inc.’s outlook to stable from negative.

The outlook revision reflects the expectation Exactech has navigated the most challenging period of the pandemic. Exactech is starting to see revenue stabilize as postponed procedures are beginning to be performed, the agency said.

“Moody’s expects leverage will improve, trending toward the mid-five times range over the next 12 months, driven by a recovery in patient volumes. Exactech’s revenues were stable in the third quarter despite the ongoing impact of the pandemic, which supports Moody’s view that though many orthopedic procedures were postponed, they will ultimately occur,” the agency said in a press release.

Moody’s also affirmed the B3 corporate family rating, B3-PD probability of default rating and B3 first-lien credit facility ratings.

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