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Moody's rates Verisk notes Baa2
Moody's Investors Service said it assigned a Baa2 rating to Verisk Analytics, Inc.'s announced senior unsecured notes due 2029.
The Baa2 senior unsecured rating reflects Verisk's recurring and growing subscription revenue model with longstanding customers, supported by its highly scalable, comprehensive and hard-to-duplicate P&C claims database, Moody's said.
The agency said it expects the company's debt-to-EBITDA ratio to be lower than 2.5x in 2019.
Moody's noted that Verisk capitalized about $130 million of software development costs in 2018.
The agency said it considers Verisk's financial policies somewhat aggressive.
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