Moody’s rates Oasis Outsourcing loans B1, Caa1

Moody's Investors Service said it rated Oasis Outsourcing Holdings, Inc.'s corporate family rating and probability of default rating at B2 and B2-PD, respectively, new first-lien credit facilities at B1 and second-lien term loan at Caa1.

The rating outlook is stable.

Proceeds will be used to finance Stone Point Capital's acquisition of Oasis from its current owner, private equity firm Nautic Partners and to pay related transaction fees.

Moody’s said the first-lien debt is rated B1, which is one notch higher than the corporate family rating and reflects the cushion of second-lien debt and unsecured liabilities. The second-lien debt is rated Caa1, which is two notches lower than the corporate family rating, reflecting the junior position in the collateral.

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