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Moody's rates USI loan B1
Moody's Investors Service said it assigned a B1 rating to USI Holdings Corp.'s proposed incremental $100 million borrowing under the accordion feature of its senior secured term loan.
The proposed borrowing does not affect USI's corporate family rating or its debt ratings, which include a B1 rating on senior secured credit facilities, a Caa1 rating on senior unsecured notes and a Caa2 rating on subordinated notes.
The outlook is stable.
Moody's said that USI's ratings reflect its favorable market position, its good balance of property & casualty insurance and employee benefits business and its ability to cross-sell various products to strengthen client relationships.
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