| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Rural/Metro Corp. > News item |
Moody's: Rural/Metro unchanged
Moody's Investors Service said that the B1 corporate family rating and B2 probability of default rating of Rural/Metro Corp. are unaffected by the pending acquisition by Warburg Pincus for $17.25 per share or about $438 million.
The acquisition by Warburg Pincus will establish a new issuer, the agency said. Warburg Pincus is expected to primarily use debt to finance the transaction thereby weakening the new issuer's credit metrics including debt leverage, interest coverage and cash flow.
The definitive agreement was filed March 29 and the transaction is expected to close in June, the agency added.
© 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.