Moody’s rates ExamWorks B2, loans B1

Moody's Investors Service said it assigned a B2 corporate family rating and B2-PD probability of default rating to ExamWorks Group, Inc. and a B1 rating to its proposed $920 million senior secured credit facilities.

The outlook is stable.

Proceeds from the first-lien term loan, along with $340 million second-lien notes (unrated) and $1,217,000,000 of cash equity contributions, will be used to fund the $2.2 billion acquisition of ExamWorks by financial sponsor Leonard Green & Partners, LP.

Following the close of the transaction, Moody's will withdraw the ratings on the company's existing $500 million senior unsecured notes.

This action concludes the review initiated on April 27.

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