Moody’s gives Installed Building loan B1

Moody’s Investors Service said it assigned a B1 rating to the proposed new term loan B of Installed Building Products, Inc.

The company is seeking to reprice its existing term loan B facility, extend the maturity by one year to 2025 and to upsize the term loan by $100 million.

“Pro forma for an additional $100 million of debt which, importantly, does not include any potential additional earnings from recent acquisitions or for the new ones that have been identified, debt/EBITDA would be a still-strong 3.4x,” the agency said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.