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Moody's rates Sotera loan B3
Moody's Investors Service said it has assigned the planned $35 million first-lien term loan of Sotera Defense Solutions, Inc. a B3 rating. All of Sotera's existing ratings, including the B3 corporate family rating, remain unaffected.
The outlook is stable.
The agency said that the term loan proceeds will provide acquisition financing for the company's purchase of Software Process Technologies, Inc., a transaction in-step with Sotera's growth-through-acquisition strategy. The SPT transaction will be the third significant acquisition since late 2010 within the company's Technology and Intelligence Services, and the first purchase since Sotera's leveraged buyout of April 2011.
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