Moody's: No change to Hub

Moody's Investors Service said that Hub International Ltd.'s extension of its senior secured credit facilities gives the company additional financial flexibility but does not affect its ratings.

According to Moody's, Hub recently announced the completion of a syndication process whereby it extended approximately 75% of its initial senior secured term loan; 87% of its incremental senior secured term loan; 100% of its U.S. senior secured revolving credit facility; and 100% of its Canadian senior secured revolving credit and overdraft facilities, not rated.

The outlook is stable.

Moody's said Hub's ratings reflect its solid market position in North American insurance brokerage, good diversification across products and geographic areas and favorable operating margins.

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