Moody's gives Genworth loans B2

Moody's Investors Service said it assigned a B2 corporate family rating to Genworth Wealth Management.

At the same time, Moody's assigned B2 ratings to a $25 million senior secured revolving credit facility and a $230 million senior secured first-lien term loan.

The outlook is stable.

The borrowers of the debt are AqGen Liberty Management I and AqGen Liberty Management II.

The credit facilities will be used to partially finance the previously announced $413 million leveraged buyout of Genworth Wealth Management by two private sponsors - Genstar Capital and Acquiline Capital Partners from Genworth Financial.

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