Moody's assigns B2 to NorthStar loan

Moody's Investors Service said it assigned a B2 rating to NorthStar Group Services, Inc.'s $100 million incremental senior secured term loan.

All other ratings for NorthStar, including the B2 corporate family rating, the B2-PD probability of default rating and the B2 rating on its existing senior secured credit facility due in 2026 are unchanged.

Northstar will use the loan and draw about $20 million on its asset-based lending revolver to fund the acquisition of Trans Ash Inc.

The outlook is stable.

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