Moody’s affirms Focus Financial on upsized loan

Moody's Investors Service said it maintained the B1 corporate family rating, Ba3 senior secured debt rating and B3 subordinated debt rating of Focus Financial Partners, LLC following the company's announcement that it will be upsizing its first-lien term loan facility by $40 million to $795 million.

The announcement follows the company's rating assignment on May 8.

The outlook is stable.

Net proceeds from the incremental term loan issuance will be used in connection with the Stone Point Capital and KKR & Co investment in Focus. Total debt for the company will be just over $1 billion, in addition to a $250 million revolver which will remain undrawn at the closing of this transaction.

© 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.