Moody’s rates Acision loan B2

Moody’s Investors Service said it assigned a corporate family rating of B2 and a probability of default rating of B3-PD to Acision BV.

Moody’s also said it assigned a B2 rating to its newly signed $160 million senior secured term loan B due 2018, which was borrowed at Fortissimo Holding BV.

The outlook is stable.

The proceeds will be used to refinance existing debt.

Acision’s B2 corporate family rating is supported by Acision’s established position as the leading independent mobile messaging service provider with significant global market share, good geographical diversification and historically high customer retention rates, Moody’s said.

The ratings are constrained by the company’s limited scale and weak position on the B2 rating category, the agency said.

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