Moody’s assigns B3 to Thryv loan

Moody’s Ratings said it rated Thryv Inc.’s new $350 million five-year senior secured first-lien credit facility B3.

Thryv's other ratings, including its B3 corporate family rating, the B3-PD probability of default rating and the B3 senior secured first-lien term loan B rating remain unchanged. The company's speculative grade liquidity rating is unchanged at SGL-2, reflecting good liquidity.

Thryv plans to use the new term loan and its new unrated asset-based lending facility to fully refinance the $700 million term loan due 2026 with $309 million outstanding at close, repay the $49 million balance on its unrated $175 million ABL facility and pay fees and expenses associated with the transaction. Upon transaction closing and full repayment, Moody's Ratings said it plans to withdraw the term loan's rating.

The outlook remains positive.

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