Moody's rates MLM loan B2

Moody's Investors Service said it assigned a B2 first-time corporate family rating to MLM Information Services, along with B2 first-lien debt ratings to its proposed debt facilities.

The facilities will be used to finance a $145 million dividend to owners. MLM is owned by group led by private equity firm Warburg Pincus.

The outlook is stable.

The ratings are driven by the company's high leverage as a result of the proposed dividend financing and limited scale, Moody's said.

The leverage and size are offset to some degree by the company's strong niche position providing tax software to large U.S. based enterprises, the agency said, and its stability of revenues, EBITDA and cash flows.

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