Moody’s rates AssuredPartners CFR B3; loans B1, Caa2

Moody's Investors Service said it assigned a B3 corporate family rating and B3-PD probability of default rating to AssuredPartners, Inc.

The agency also assigned ratings of B1 to the first-lien and Caa2 to the second-lien credit facilities to help fund a leveraged buyout of the company sponsored by private equity firm Apax Partners, LP.

The outlook is stable.

Moody’s said the ratings reflect AssuredPartners' growing market presence in middle market insurance brokerage; good diversification across clients, producers, insurance carriers and product lines; healthy EBITDA margins; and a track record of reducing financial leverage.

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