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Moody’s gives Evertec notes B1
Moody's Investors Service said it affirmed Evertec Group, LLC's B1 corporate family rating, B1-PD probability of default rating and assigned a B1 rating to the new $400 million senior secured notes due June 2022.
The outlook is stable.
Proceeds are being used to refinance the roughly $397 million of existing senior secured term loan B due April 2020.
The new notes have identical security and collateral terms to the existing term loan B, including the guarantees, Moody’s said.
The refinancing of the term loan B with the new notes pushes out debt maturities by more than two years to June 2022.
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