Moody’s rates STG-Fairway loans B2, Caa2

Moody's Investors Service said it assigned a B3 corporate family rating to STG-Fairway Acquisitions Inc. (First Advantage), a B2 rating to its new first-lien revolving credit and term-loan facilities and a Caa2 rating to its new second-lien term loan.

The outlook is stable.

The company intends to use the $635 million in term loan proceeds to refinance existing debt, fund a $100 million dividend to its private equity owners, Symphony Technology Group, add cash to the balance sheet and pay transaction expenses.

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