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Moody's assigns Acacium loan B1
Moody's Investors Service said it assigned a B1 rating to ICS US Holdings Inc.'s $140 million incremental senior secured first-lien term loan B due 2028. ICS US Holdings Inc has been added as an additional borrower under Impala Bidco 0 Ltd.'s (Acacium Group) senior secured first lien term loan.
Acacium’s B1 corporate family rating, B1-PD probability of default rating and B1 ratings on £375 million senior secured first-lien term loan due 2028 and £45 million senior secured first-lien revolving credit facility due 2027 are unchanged.
Acacium is buying a healthcare staffing business, with the purchase and related fees being funded by the $140 million term loan, $20 million of new equity from the shareholders, $16 million in cash and $1 million from target management as an investment in Acacium.
The outlook is stable.
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