Moody’s B1 rating for Insight Pharmaceuticals

Moody’s Investors Service assigned a B1 rating to Insight Pharmaceuticals LLC’s (Insight) upsized first lien senior secured term loan, lowered the rating on its $20 million first lien senior secured revolver to B1 from Ba3, and affirmed the B2 Corporate Family Rating (CFR). The company is weakly positioned within the B2 CFR due to its small size, high leverage, and moderate cushion within the credit facility financial maintenance covenants. Moody’s nevertheless affirmed Insight’s B2 CFR with a stable rating outlook based on expected stabilization of the company’s operating performance, projected free cash flow improvement, and anticipated leverage reduction.

Read the source article at Moody’s