Moody’s rates IntraFi loan B2

Moody's Investors Service said it assigned a B2 rating to Nexus Buyer LLC's (IntraFi Network LLC) new $500 million senior secured first-lien incremental term loan due 2028.

The agency also affirmed IntraFi’s other ratings, including the B3 corporate family rating, the B3-PD probability of default rating, the B2 $100 million senior secured first-lien revolver, the B2 $1.1 billion senior secured first-lien term loan and the Caa2 $540 million senior secured second-lien term loan.

The company plans to use the loan to make a nearly $450 million distribution to shareholders, repay the $33 million outstanding balance on the revolver and pay transaction fees and original issue discount. The outlook remains stable.

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