Moody’s rates Nord Anglia loans B1

Moody's Investors Service said it assigned the B1 instrument ratings to the following amended and extended facilities that are expected to replace Nord Anglia Education Inc.’s term loan once the refinancing transaction is finished.

The new ratings are the same as Moody’s on the outstanding facility.

The new facilities will include a $1.405 billion euro-equivalent guaranteed senior secured first-lien term loan B due 2028, a $500 million guaranteed senior secured first-lien term loan B due 2028 co-borrowed by both Fugue Finance entities and a $545 million guaranteed senior secured first-lien multicurrency revolving credit facility due 2027. Subsidiaries Fugue Finance BV and Fugue Finance LLC will co-borrow the loans.

The outlook is stable.

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