Moody's: Corporate Executive Board loan at Ba3

Moody's Investors Service said it assigned the Corporate Executive Board Co. a Ba3 corporate family rating and a Ba3 rating on a new senior secured credit facility that will be used to finance the $660 million acquisition of SHL.

Concurrently, Moody's assigned a B1 probability of default rating and an SGL-2 speculative grade liquidity rating.

The outlook is stable.

"We view the SHL acquisition favorably, as it broadens Corporate Executive Board's capabilities in talent measurement and management," Moody's analyst Suzanne Wingo said in a news release. "The two businesses target a common customer base, which should provide meaningful opportunities for cross-selling."

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