In addition, Moody’s affirmed its “A3” rating on MSH’s outstanding bonds, affecting $315 million of debt.
The affirmation and assignment are a result of several factors, including MSH’s strong market position, manageable leverage, and improved operating margins and liquidity metrics. Moody’s also acknowledged the MSH’s weak cashflow, highly competitive service area and increased capital spending period.
The outlook is stable, reflecting Moody’s expectation that MSH’s sustained operating performance, maintained liquidity metrics and fundraising capabilities will offset the period of high capital spending.
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