Moody’s rates Acrisure notes Caa2

Moody's Investors Service said it affirmed the B3 corporate family rating and B3-PD probability of default rating of Acrisure, LLC, and has assigned a Caa2 rating to the company's $300 million issuance of seven-year senior unsecured notes.

In the same action, Moody's affirmed the B2 ratings on Acrisure's senior secured credit facilities and notes and the Caa2 rating on its existing senior secured notes.

Moody's maintained a negative outlook on Acrisure.

“Acrisure's ratings reflect its growing market presence in U.S. insurance brokerage and its recent international expansion, its good mix of business across property & casualty insurance and employee benefits, and its healthy EBITDA margins,” the agency said in a news release.

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