03.03.2016 17:26:00
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Entegris Inc. -- Moody's upgrades Entegris Inc.'s ratings: CFR to Ba3, Sr Sec rating to Ba1, Sr Unsec to B1; outlook stable
New York, March 03, 2016 -- Moody's Investors Service ("Moody's") upgraded Entegris Inc.'s ("Entegris") ratings: Corporate Family Rating ("CFR") to Ba3 from B1, Probability of Default Rating ("PDR") to Ba3-PD from B1-PD, Senior Secured rating to Ba1 from Ba3, Senior Unsecured rating to B1 from B3, and the Speculative Grade Liquidity ("SGL") rating to SGL-1 from SGL-2. The upgrade to the ratings follows Entegris's repayment of $100 million of Senior Secured debt during 2015, its commitment to further debt reduction in 2016, and the successful integration of ATMI, Inc. The outlook is stable.