Moody's ups TriNet Group

Moody's Investors Service said it upgraded TriNet Group, Inc.'s corporate family rating to Ba1 from Ba2 and the company's probability of default rating to Ba1-PD from Ba2-PD.

Concurrently, Moody's upgraded the rating on TriNet's senior unsecured notes to Ba2 from Ba3 and maintained the speculative grade liquidity rating at SGL-1.

“The upgrade was driven principally by ongoing improvement in TriNet's operating performance trends as well as Moody's expectation that the company will sustain a conservative financial policy with respect to incremental debt financing of share repurchases and acquisitions,” Moody’s said in a news release.

The outlook is stable.

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