Moody’s rates Halo Buyer facilities B1, Caa1

Moody's Investors Service said it assigned issuer ratings for Halo Buyer, Inc., including a B2 corporate family rating and B2-PD probability of default rating.

In addition, the company's senior secured first-lien revolver and term loan were rated B1, and its second-lien term loan was rated Caa1.

The outlook is stable.

"Although Halo is relatively small and will likely remain highly levered at over 5 times debt-to-EBITDA on a Moody's-adjusted basis over the next 12-18 months, the company is expected to grow its top-line and profitability while generating positive free cash flow that could be used for debt repayment," Moody's vice president and lead analyst for the company, Brian Silver, said in a news release.

"However, cash flows are expected to be used primarily for acquisitions, as Halo will be an active buyer seeking to grow share in the highly fragmented promotional products order management space, which will delay deleveraging while increasing its industry presence over time."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.