Moody's assigns Deluxe loan B2

Moody's Investors Service said it assigned a B2 rating to Deluxe Entertainment Services Group, Inc.'s proposed $570 million senior secured term loan facility maturing 2020.

In connection with the action, the agency affirmed Deluxe's B2 corporate family rating and B2-PD probability of default rating.

The outlook was changed to stable from negative.

The new term loan will benefit from upstream domestic operating subsidiary guarantees and be secured by a first-lien security interest on Deluxe's U.S. assets, except for accounts receivable and deposit accounts, which will be second priority behind the ABL facility.

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