Moody’s: Travel Leaders unaffected by upsized loan

Moody's Investors Services said that Travel Leaders Group, LLC's B2 corporate family rating and its instrument-level ratings are not affected by the announced $35 million increase of it upsized first-lien term loan to a total of $435 million.

While incremental cash is modestly positive for the company's liquidity, said it expects Travel Leaders will continue to prioritize its cash flows and balance sheet cash for future tuck-in acquisitions and that leverage will remain elevated.

© 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.