Moody's: Booz Allen loans Ba3

Moody's Investors Service said it downgraded Booz Allen Hamilton Inc.'s corporate family and probability of default ratings to Ba3 from Ba2. In addition,

In addition, Moody's assigned Ba3 ratings to Booz Allen's proposed $2.25 billion senior secured credit facilities.

The SGL-1 rating remains unchanged.

The outlook is stable.

Moody's said the increase in debt being used to finance the $1 billion dividend to existing shareholders would result in credit metrics that initially are weak for the Ba3 rating category, but Moody's said it expects the company's credit metrics to come in line with a Ba3 rating within a reasonable timeframe.

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