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Moody’s assigns Tosca loan B2
Moody’s Investors Service said it assigned a B2 rating to Tosca Services, LLC’s proposed $526.5 million senior secured term loan due July 2027.
“The B2 rating on the proposed term loan is the same as the corporate family rating reflecting the all-bank debt capital structure,” Moody’s said in a press release.
The proceeds will be used to finance the acquisition of Contraload NV, repay the senior secured term loan due December 2026 and pay fees and expenses. The B2 rating on the company's 2026 term loan will be withdrawn at the close of the transaction.
Moody’s also affirmed Tosca's B2 corporate family rating and B2-PD probability of default rating.
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