Moody's assigns MRI loans B2

Moody's Investors Service said it assigned MRI Software LLC a B3 corporate family rating, B3-PD probability of default rating and B2 ratings to the proposed senior secured first-lien revolving credit facility due 2019 and proposed senior secured first-lien term loan due 2021.

The outlook is stable.

Proceeds, together with an unrated senior secured second-lien term loan, will be used to fund a dividend to shareholders, refinance existing debt and pay related fees and expenses.

Moody's said the B3 corporate family rating reflects MRI's high financial leverage, small size and limited operating scope, the competitive marketplace in which it operates and Moody's expectations for free cash flow to be used for acquisitions rather than debt repayment.

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