Moody’s gives RLG term loan add-on B2

Moody's Investors Service said it assigned a B2 rating to RLG Holdings, LLC's $130 million first-lien term loan add-on due July 2028.

This term loan is pari passu with the existing first-lien term loan outstanding.

The company's B3 corporate family rating and all other ratings are unchanged.

Proceeds will be used to finance bolt-on acquisitions.

The outlook is stable.

“RLG's B3 CFR reflects high leverage,” the agency said in a news release.

“Moody's expects pro forma adjusted debt-to EBITDA (including Moody's adjustments) of close to 7.0x at year end 2022 to approach 6.5x in 2023.”

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