Moody’s rates Savers notes B2

Moody’s Investors Service said it rated the planned $500 million of senior secured notes due 2028 to be sold by Savers (Evergreen AcqCo 1 LP) B2.

Moody's also affirmed Savers' B2 corporate family rating, B2-PD probability of default rating and B2 senior secured first-lien term loan and senior secured first-lien revolving credit facility ratings.

Savers plans to use the proceeds to fund a $230 million dividend, pay a $21 million special bonus and use the remainder to repay a portion of its first-lien term loan.

The outlook remains stable.

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