Moody’s: Agile unaffected by tap bond

Moody's Investors Service said that Agile Group Holdings Ltd.'s tap bond offering on its existing $200 million senior notes due 2021 will not immediately affect the company's Ba2 corporate family rating or the Ba3 senior unsecured rating of its dollar notes.

The outlook is stable.

Agile will use the proceeds from the proposed tap issuance to refinance offshore debt.

"The proposed notes issuance will improve Agile's liquidity and lengthen its debt maturity profile, because the company will use the proceeds to refinance its short-term debt," Kaven Tsang, Moody's vice president and senior credit officer, said in a news release.

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