| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Olive Merger Sub, Inc. > News item |
Moody’s ups Olive second-lien debt
Moody's Investors Service said it affirmed Olive Merger Sub, Inc.'s B3 corporate family rating and upgraded its second-lien debt to Caa1 from Caa2.
Olive Merger Sub is a new entity formed by private equity group KKR to acquire Optiv, Inc.
Moody’s said the upgrade incorporates the shift of $50 million of debt from the second-lien tranche to the first-lien tranche. The B2 first-lien rating was affirmed after the shift. Pricing on both tranches of debt is also reduced, which modestly improves the company's free cash flow prospects.
The outlook remains stable.
© 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.