Moody's gives McGraw-Hill School loan B2

Moody's Investors Service said it assigned a B1 corporate family rating and a B1-PD probability of default rating to McGraw-Hill School Education Holdings, LLC.

The agency also assigned B2 to the company's proposed $200 million senior secured term loan.

The outlook is stable.

Net proceeds from the new term loan along with $200 million of balance sheet cash are expected to fund a special dividend of $395 million and transaction related fees.

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