Moody’s rates Sedgwick loan B2

Moody's Investors Service said it assigned a B2 rating to a $300 million senior secured term loan being issued by Sedgwick Claims Management Services, Inc.

Sedgwick will use the proceeds to add liquidity to its balance sheet.

“Giving effect to the proposed financing, Moody's estimates that Sedgwick's pro forma debt-to-EBITDA ratio will be around 7.5x, which is high for its rating category,” Moody’s said in a press release.

The outlook for Sedgwick is unchanged at stable.

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