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Moody’s rates Franklin Square, loans Ba1
Moody's Investor Service said it assigned a Ba1 corporate family rating and a Ba1-PD rating to Franklin Square Holdings, LP.
The agency also assigned senior secured Ba1 backed revolving credit facility and backed term loan ratings to the $90 million five-year revolver and $450 million seven-year term loan B.
The outlook is stable.
“The Ba1 corporate family rating reflects FSH's strong recurring revenue base, moderate leverage, healthy pre-tax income margins and a leading competitive position within the retail alternative investments market,” Moody’s said in a news release.
“A high percentage of FSH's AUM is in permanent or semi-permanent capital vehicles which supports a highly recurring management fee revenue base.”
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