Syniverse Holdings, Inc. -- Moody's downgrades Syniverse's CFR to B3, Outlook changed to negative

New York, December 15, 2015 -- Moody's Investors Service, ("Moody's") has downgraded the corporate family rating (CFR) of Syniverse Holdings, Inc. ("Syniverse" or "the company") to B3 from B2, and changed the outlook to negative from stable. The downgrade and change in outlook reflects the company's heightened leverage, declining operating performance, execution risk as technology standards transition, and free cash flow that is low relative to debt. Operating performance will likely remain weak as legacy businesses decline and the company is unlikely to de lever easily given the large debt balance outstanding. In addition, foreign currency headwinds are exacerbating Syniverse's challenges. Moody's has also downgraded all senior secured bank facilities to B2 from B1 and the senior unsecured notes to Caa2 from Caa1.

Vollständigen Artikel bei Moodys lesen