Moody's upgrades Macom

Moody's Investors Service said it upgraded the ratings of Macom Technology Solutions Holdings, Inc., including the corporate family rating to B1 from B2, the probability of default rating to B1-PD from B2-PD and the senior secured term loan to Ba1 from Ba2.

The speculative grade liquidity rating is unchanged at SGL-2. The outlook is stable.

“The upgrade to the CFR reflects Macom’s improved operating performance over the past year, with healthy revenue growth supporting the increase in the EBITDA margin (Moody's adjusted) to the upper 20s percent level. We expect this solid operating performance to be sustained,” Moody’s said in a news release.

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