Moody’s affirms Acrisure

Moody's Investors Service said it affirmed the B3 corporate family rating and B3-PD probability of default rating of Acrisure, LLC following the company's announcement of plans to issue a new $400 million senior secured term loan.

The company will use proceeds to help fund acquisitions and pay related fees and expenses.

The agency also affirmed the B2 ratings on Acrisure's existing senior secured credit facilities and the Caa2 rating on its senior unsecured notes.

The outlook remains negative.

Moody’s said the ratings reflect the company’s growing market presence in U.S. insurance brokerage, its good mix of business across property & casualty insurance and employee benefits, its healthy EBITDA margins and its well-developed acquisition strategy.

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