Moody's assigns Baa3 to Sally loan

Moody's Investors Service said it assigned a Baa3 rating to Sally Holdings LLC's planned seven-year term loan.

Sally's Ba1 corporate family rating, its Baa3 senior secured bank credit facility rating and Ba2 rating on the company's senior unsecured notes remain unchanged. There is no change to the company's SGL-1 speculative grade liquidity rating.

Sally will use the loan and balance sheet cash to refinance the company's $406 million term loan due July 2024 and to pay fees and expenses.

The outlook is stable.

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