Moody's assigns B3 to ImageFirst loans

Moody's Investors Service said it assigned B3 rating to ImageFirst Holdings, LLC's planned $100 million incremental first-lien senior secured term loan due 2028 and $20 million delayed-draw term loan due 2028.

ImageFirst's other ratings remain unchanged, including its B3 corporate family rating, B3-PD probability of default rating, and the B3 rating on the company's existing first-lien senior secured credit facility, consisting of a $50 million revolver due 2026 and a $270 million term loan due 2028.

The company will use the $100 million loan to repay revolver loans, fund acquisitions, including several that have already been identified, and add cash to the balance sheet. The delayed-draw term loan availability expires in 24 months.

Proceeds from the delayed-draw term loan can be used to finance one or more permitted investments, to finance earn-outs to permitted investments, and to repay revolving loans that were used to fund permitted acquisitions.

The outlook remains stable.

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