Moody’s gives Rackspace notes B1

Moody’s Investors Service said it rated Rackspace Technology Global Inc.’s new $650 million first-priority senior secured notes due 2028 B1.

Moody’s also affirmed Rackspace’s B2 corporate family rating, B2-PD probability of default rating, B1 rating on its new $2.2 billion seven-year senior secured term loan, B1 rating on its $375 million revolver and Caa1 rating on its $550 million of senior unsecured notes due 2028.

Term loan and secured note proceeds will be used to fully refinance Rackspace’s $2.8 billion term loan B due 2023.

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.