Moody's rates Goodman Global B1, loan Ba3

Moody's Investors Service said it assigned ratings to Goodman Global, Inc.: corporate family rating at B1, probability of default at B1 and first-lien senior secured term loan at Ba3.

The outlook is stable.

Moody's said that the purpose of the term loan and other credit facilities is to fund the acquisition of Goodman by affiliates of Hellman & Friedman LLC for an aggregate purchase price of $2.7 billion including refinancing of existing debt.

In a related action, Moody's said it confirmed the ratings of Goodman Global Holdings, Inc.: corporate family rating at B1, probability of default at B1, senior secured bank credit facility at Ba2, senior unsecured notes at B1, senior subordinate notes at B3 and speculative-grade liquidity rating at SGL-2.

Moody's noted that it has maintained a B1 corporate family rating for Goodman Global Holdings, Inc., adding that over the past year, the company's financial metrics have improved to levels that could be supportive of a higher corporate family rating.

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