Moody’s rates Garda World add-on loan Ba3

Moody's Investors Service said it affirmed Garda World Security Corp.’s B2 corporate family rating, B2-PD probability of default rating, Ba3 senior secured credit facilities rating and Caa1 senior unsecured notes rating, and assigned a Ba3 rating to the proposed add-on $75 million term loan.

The speculative grade liquidity rating was upgraded to SGL-2 from SGL-3.

The outlook is stable.

Garda's will use the net proceeds from the new delayed draw term loan and balance sheet cash to fund the $130 million acquisition of Aegis Group.

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