Moody’s: TNS unchanged by Advam buy

Moody's Investors Service said that TNS, Inc.'s B2 corporate family rating and stable outlook, as well as the B2-PD probability of default rating and B1 first-lien credit facility rating, are unchanged following its planned acquisition of Advam.

In addition to Advam, TNS is acquiring two other companies.

The acquisitions, expected to close by the fourth quarter of 2018, will be financed with an incremental term loan of $60 million and cash on hand.

“While we expect leverage to rise by approximately one quarter of a turn initially, we believe these assets will improve the company's core business initiatives, provide current and future customers with enhanced product offerings, improve revenue diversification, and increase TNS' global footprint,” the agency said in a news release.

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