Moody’s rates Hub loan B2

Moody’s Investors Service said it assigned Hub International Ltd.’s planned $4.25 billion seven-year senior secured loan a B2 rating and revised the company’s outlook to positive from stable. The agency also affirmed Hub’s ratings, including the B2 ratings on its outstanding credit facilities and Caa2 rating on its senior unsecured notes.

Hub plans to use the new loan to refinance a portion of its senior secured term loans maturing in April 2025, repay revolver borrowing, help fund acquisitions, and pay related fees and expenses.

The improved outlook reflects “the company's steady growth in revenue and strong EBITDA margin, along with Moody’s expectation that Hub will maintain financial leverage toward the low end of its historical range,” the agency said in a press release.

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