Moody's: Connolly loans Ba3, Caa1

Moody's Investors Service said it assigned Connolly, LLC a B2 corporate family rating, a Ba3 rating to its proposed first-lien credit facility and a Caa1 rating to ts proposed second-lien term loan.

The outlook is stable.

Proceeds from the term loans, along with additional equity, will be used to finance Advent International Corp.'s acquisition of Connolly. The sellers will maintain a meaningful ownership stake post-transaction.

© 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.