Moody's ups Internet Brands, rates loan B1

Moody's Investors Service said it upgraded MH Sub I, LLC's (d/b/a Internet Brands) corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD, senior secured first-lien bank credit facilities ratings to B1 from B2 and senior secured second-lien term loan to Caa1 from Caa2.

Concurrently, Moody's assigned a B1 rating to the proposed $4.7 billion senior secured first-lien term loan.

The outlook is stable.

“The transaction is leverage neutral given that the new $4.7 billion term loan will be used to fully refinance the existing first-lien term loans due 2024,” Moody’s said in a news release.

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