Moody’s assigns TriNet Group Ba2

Moody’s Investors Service said it assigned new ratings to TriNet Group, Inc. with a corporate family rating of Ba2, a probability of default rating of Ba2-PD and a SGL-1 speculative grade liquidity rating.

Concurrently, Moody’s gave a Ba3 rating to TriNet’s new senior unsecured notes that will be used to add cash to its balance sheet and repay $370 million in subsidiary TriNet USA, Inc.’s term loan debt.

TriNet USA will also obtain a new, unrated $500 million secured revolving credit facility, replacing its bank facility.

Moody’s will withdraw all of TriNet USA’s ratings upon completing the refinancing transaction.

The outlook is stable.

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