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Moody’s rates My Alarm notes B3
Moody’s Investors Service said it assigned a B3 corporate family rating to My Alarm Center, LLC, along with a B3 rating to its new $265 million second-lien notes.
The proceeds will be used to refinance existing debt, pay fees and for general corporate purposes, Moody’s said.
The outlook is stable.
The ratings reflect the company’s weaker leverage metrics relative to its alarm-monitoring peers, very small scale and an aggressive, evolving growth strategy that, if realized, will require supplemental liquidity, the agency said.
Moody’s said it expects continued steady revenue growth for the company, supported by strong industry fundamentals persistently high leverage.
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