Moody’s changes Aegis view to stable

Moody's Investors Service said it affirmed Aegis Toxicology Sciences Corp.'s ratings, including the B3 corporate family rating, the B3-PD probability of default rating and the B3 rating on the senior secured credit facility.

Moody's also changed the outlook to stable from positive.

“The change in outlook reflects the low likelihood of an upgrade in the next 12-18 months given challenges in operating performance that Aegis has faced related to the 2018 acquisition of certain assets from Ameritox,” the agency said in a news release.

“These integration issues have been further compounded by on-going billing and collection issues that have resulted in weak cash flow.”

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