Moody’s gives LI loan B2

Moody’s Investors Service said it assigned LI Group Holdings, Inc.’s (Liaison) new, $300 million first-lien senior secured term loan B2.

The agency also affirmed Liaison’s B2 corporate family rating, B2-PD probability of default rating and B2 instrument ratings on an existing first-lien revolving credit facility.

Proceeds will be used to pay down a $273 million first-lien term loan, add $23 million of cash to Liaison’s balance sheet, and pay transaction fees. Moody expects to withdraw the $273 million term loan’s rating upon closing the $300 million loan.

The outlook remains stable.

© 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.