Moody's assigns B2 to Inspired loan

Moody's Investors Service said it assigned a B2 instrument rating to the new €250 million senior secured term loan B tranche due 2026 to be issued by Inspired Finco Holdings Ltd., a subsidiary of Inspired Education Holdings Ltd.

Inspired Education’s B2 corporate family rating and B2-PD probability of default rating and the B2 instrument ratings of Inspired Finco as well as the stable outlook are unaffected by the new debt issuance.

The loan and €150 million of new equity raised, will be used to finance the planned acquisition of Eleva Educacao in Brazil and a number of bolt-on acquisitions for a total consideration of around €360 million. Eleva is an operator of nine premium K-12 schools across Brazil with around 9,000 students.

The deal is expected to close in June 2022.

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