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Moody's rates TriNet debt B1
Moody's Investors Service said it assigned TriNet HR Corp. corporate family and senior secured debt ratings of B1. The agency also assigned a probability of default rating of B2.
The outlook is stable.
The agency said the B1 corporate family rating reflects Moody's expectation for deleveraging from the combination of debt reduction and profit growth, to produce debt to EBITDA below 4x by the end of 2013.
Moody's said the stable outlook reflects its expectation that TriNet will rapidly delever through outright debt reduction combined with EBITDA growth such that the agency expects debt to EBITDA to decline to below 4x by the end of 2013.
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