Moody's gives Allegion loans Ba1

Moody's Investors Service said it assigned a Ba1 corporate family rating and Ba1-PD probability of default rating to Allegion U.S. Holding Co. Inc.

Concurrently, Moody's assigned Ba1 ratings to the company's $500 million senior secured revolving credit facility, $500 million term loan A and $300 million term loan B.

Moody's also assigned a speculative grade liquidity rating of SGL-2.

The outlook is stable.

The agency said it anticipates that the proceeds from the proposed $500 million term loan A, due 2018 and $300 million term loan B, due 2021, will be used execute the spin-off from Ingersoll Rand.

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