Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Adtalem Global Education Inc. > News item |
Moody's alters Adtalem view to positive
Moody's Investors Service said it altered the outlook to positive from stable and affirmed Adtalem Global Education Inc.'s B1 corporate family rating and its B1-PD probability of default rating. The agency also affirmed the company's senior secured first-lien credit facility, which includes an $850 million term loan facility due 2028 and a $400 million revolving credit facility expiring in 2026 at B1 and its $800 million senior secured notes due 2028 at B1. The speculative grade liquidity rating was maintained at SGL-1.
“Today's rating action is driven by Adtalem's announcement it intends to repay approximately $770 million of debt from the expected $820 million in net proceeds from the pending divestiture of the financial services segment, which is expected to close by March 31, 2022. Debt is expected to be paid down approximately 30 days after transaction close,” Moody’s said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.