Moody’s gives Franklin Square loans Ba1

Moody’s Investors Service said it gave Ba1 ratings to Franklin Square Holdings, LP’s new $150 million backed senior secured revolving credit facility due 2025. The agency concurrently assigned Ba1 ratings to a new $80 million backed senior secured term loan A-1 due 2025 and a new $70 million backed senior secured term loan A-2 due 2025.

The $150 million facility replaces the company's $100 million backed senior secured revolving credit facility due 2023, and the rating on that replaced facility has been withdrawn.

The agency also affirmed FSH’s Ba1 corporate family rating and Ba1-PD probability of default rating as well as the Ba1 ratings on FSJV Holdco's backed senior secured bank credit facility the $520 million senior secured term loan B due 2025.

The outlook is stable.

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