Moody's rates URS notes Baa3

Moody's Investors Service said it assigned Baa3 ratings to URS Corp.'s proposed $400 million five-year and $600 million 10-year senior unsecured notes issues.

The outlook remains stable.

The proceeds will be used to partially fund the $1.5 billion acquisition of Flint Energy Services Ltd., Moody's said.

The ratings benefit from its high proportion of relatively stable operations and maintenance revenue from its various U.S. government contracts, the agency said.

The company has limited fixed-price construction risk, diverse end-market exposure, a strong market position and a significant order backlog, Moody's added.

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