Moody's rates GEO notes B1

Moody's Investors Service said it assigned a B1 rating to GEO Group's proposed $250 million senior debt due February 2021 and affirmed its corporate family rating at Ba3, senior secured rating at Ba3 and senior rating at B1.

The outlook is stable.

Proceeds will be used to help fund GEO's proposed acquisition of BI Inc. for $415 million. A consortium of banks have provided the balance of the purchase price, which will be used to finance the all-cash transaction expected to close later in February 2011.

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