Moody’s rates Road Infrastructure loans B1

Moody's Investors Service said it assigned a B2 corporate family rating and a B2-PD probability of default rating to Road Infrastructure Investment Holdings Inc.

The agency also assigned B1 ratings to the company’s proposed $75 million revolving credit facility due 2021 and $442 million senior secured first-lien term loan due 2023.

Additionally, the company has a $172 million senior secured second-lien due 2024 that is unrated.

Road Infrastructure will use the new facilities to refinance its current capital structure following its sale to Olympus Partners from Brazos Private Equity LLC. Upon completion of the transaction Moody's will withdraw its existing ratings on Road Infrastructure Investment, LLC (B2 negative).

The transaction is expected to close in June.

The outlook is negative.

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