Moody's rates PRA notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to PRA Group, Inc.’s new eight-year senior unsecured note in the amount of $300 million. The agency also affirmed PRA's corporate family rating of Ba1 and its senior unsecured debt rating of Ba2.

PRA will use the proceeds to partially repay borrowings under the North American credit facility under which there was $348 million outstanding as of June 30.

The outlook remains stable.

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