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Moody's upgrades CURO Group Holdings corporate family rating to B3 from Caa1

Moody's upgraded CURO Group Holdings Corp.'s corporate family rating to B3 from Caa1.

The rating agency also upgraded CURO Group Holdings unit CURO Financial Technologies Corp.'s senior secured rating to B3 from Caa1.

The outlook on both CURO Group Holdings and CURO Financial Technologies was changed to stable from positive.

In addition, the rating agency assigned a B3 senior secured rating to the new $675 million senior secured notes, which will be issued out of CURO Group Holdings.

The upgrade reflects CURO Group Holdings' further improved funding profile, Moody's said. The upgrade, according to the rating agency, also factors in CURO Group Holdings' strong profitability, which would be boosted further by a decrease in interest expense, considering the anticipated lower pricing on the new notes.