Moody’s gives ‘B1′ rating to data backup company Vision Solutions

Moody’s gives ‘B1′ rating to Vision Solutions

NEW YORK — Moody’s Investors Service gave the data backup company Vision Solutions Inc. a “B1″ credit rating Thursday, its first rating on the company.

The agency said the rating, which is in non-investment grade, or “junk,” territory, reflects the company’s “moderately high” level of debt and strong competitive position.

Moody’s also gave a “B1″ rating to the debt Vision Solutions is taking on to buy rival Double-Take Software Inc. for $242 million.