Moody's rates MMM facility B2

Moody's Investors Service said it assigned a B2 senior secured debt rating to MMM Holdings, Inc.'s proposed $480 million senior secured credit facility.

The agency also downgraded the corporate family rating of MMM to B2 from B1 and the insurance financial strength ratings of the company's operating subsidiary, MMM Healthcare, Inc. and affiliated operating company PrimeCare Medical Network, Inc., a subsidiary of NAMM Holdings, Inc. to Ba2 from Ba1.

The outlook is stable.

Moody's said the ratings are contingent on the full payment of the outstanding balance of company's jointly issued credit facility with NAMM.

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