Moody's ups Eating Recovery

Moody's Investors Service said it upgraded Eating Recovery Center LLC’s parent company, ERC Finance, LLC’s corporate family rating to B3 from Caa1 and probability of default rating to B3-PD from Caa1-PD.

Moody’s also upgraded the instrument rating on the company’s first-lien senior secured debt to B2 from B3.

“The upgrade reflects Moody's expectation that Eating Recovery Center will continue to see EBITDA growth from the facility expansions and upgrades made over the last several years, ongoing cost saving initiatives, as well as strong demand for the company’s services, which will result in further improvement in Eating Recovery Center’s credit metrics,” said Moody’s lead analyst Vladimir Ronin in a news release.

The outlook is stable.

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