IPC Systems, Inc. -- Moody's affirms IPC's B3 CFR; changes outlook to stable and assigns ratings to proposed refinancing

New York, April 15, 2014 -- Moody's Investors Service affirmed IPC Systems, Inc's ("IPC") B3 corporate family rating ("CFR") and changed the company's outlook to stable from negative. Concurrently, Moody's assigned B1 ratings to the company's proposed first lien senior secured credit facilities, consisting of a $25 million revolving credit facility due 2019 and a $525 million term loan due 2020. In addition, Moody's assigned a Caa2 rating to the company's proposed $350 million second lien term loan due 2021. The company's B3-PD probability of default rating ("PDR") was affirmed.

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