Moody's rates TASC loan Ba2

Moody's Investors Service said it affirmed the B1 corporate family and probability of default ratings of TASC, Inc. and assigned a Ba2 (LGD2, 27%) rating to the company's planned $675 million first-lien bank facility, which will replace the company's existing bank facility.

The outlook is negative.

The transaction is largely neutral to the company's cash and debt balances, the agency said.

The ratings consider TASC's strong position as a systems engineering and technical assistance-focused U.S. Department of Defense/intelligence community contractor, the agency said.

The ratings consider operating performance that has trailed original expectations, 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.