Moody’s rates Ryan CFR B3, loans B2

Moody's Investors Service said it assigned a B2 rating to Ryan, LLC's proposed $50 million first-lien revolver and $250 million first-lien term loan, which mature in 2020.

At the same time, the agency assigned a corporate family rating of B3 to Ryan and a probability of default rating of Caa1-PD.

The outlook is stable.

Proceeds from the term loan offering will be used to repay existing debt, as well as provide a small amount of cash reserves for acquisitions.

Moody’s said the B3 corporate family rating reflects Ryan's modest size with a short history of operating at its current revenue base, its narrow service offering and its geographic concentration.

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