Moody's rates Vesta loans Ba3, B3

Moody's Investors Service said it assigned the following ratings to the debt of Vesta Corp.: B2 corporate family and probability of default ratings; Ba3 to the proposed $200 million first-lien term loan; and B3 to the proposed $95 million second-lien term loan.

The outlook is stable.

Moody's said the rating reflects the high financial leverage of about 5 times adjusted debt EBITDA and small scale relative to larger and financially stronger payment processors. Vesta also has particularly high industry and customer concentration from its mobile carrier customers, the agency said.

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