Moody’s rates Ryan notes B1

Moody's Investors Service said it assigned a B1 rating to $400 million of eight-year senior secured notes being issued by Ryan Specialty Group, LLC, the operating company for Ryan Specialty Group Holdings, Inc. The notes are being offered to qualified institutional investors under Rule 144A of the Securities Act of 1933.

The notes will rank equally with Ryan’s bank debt and carry the same B1 rating.

Ryan intends to use the proceeds for general corporate purposes, including future acquisition opportunities and investments, and to pay related fees and expenses.

The outlook is unchanged at stable.

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