Moody's rates ConvergeOne loans B2, Caa2

Moody's Investors Service said it assigned corporate family and probability of default ratings of B3 and B3-PD, respectively, to ConvergeOne Holdings Corp.

Concurrently, the agency assigned B2 ratings to the proposed $25 million senior secured revolving credit facility due 2019 and $190 million first-lien term loan due 2020 and a Caa2 rating to the $80 million second-lien term loan due 2021.

The outlook is stable.

The ratings were assigned in connection with Clearlake Capital Group's proposed acquisition of ConvergeOne.

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