Moody's rates RSA Security facilities B1, Caa1

Moody's Investors Service said it affirmed Redstone Buyer LLC's (RSA Security) ratings, including the corporate family rating at B2.

Moody's also assigned a B1 rating to the proposed first-lien debt facilities and Caa1 rating to the proposed second-lien debt.

The outlook was revised to negative from stable.

The ratings on the existing debt will be withdrawn upon closing full repayment at closing, Moody’s said.

The negative outlook reflects the increase in debt to fund a recapitalization shortly after spinning off from Dell and implementing a significant operational restructuring. The incremental debt will keep leverage at elevated levels for longer than Moody's had anticipated at the time of the Dell separation, Moody’s said in a news release.

A group of private equity investors led by Symphony Technology Group acquired RSA from Dell in September 2020.

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