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Moody’s rates Realogy notes Caa1
Moody's Investors Service said it rated Realogy Group LLC's proposed senior notes due 2021 at Caa1.
All other debt ratings, including the B2 corporate family rating and the positive outlook, are unaffected.
The cash proceeds of the proposed notes and cash will be used to repay the currently outstanding senior secured notes due 2019 and to pay associated fees, expenses and call premiums.
"Although debt levels will remain largely unchanged after the proposed refinancing, over $4 billion of secured debt could be refinanced as soon as early 2016 when the secured notes due 2020 can be called," Moody's senior credit officer Edmond DeForest said in a news release.
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