Moody’s rates Micro Focus facilities B1

Moody's Investors Service said it assigned a B1 instrument rating to the new and amended bank facilities of Micro Focus International plc.

Concurrently, the agency affirmed the B1 corporate family rating and B1-PD probability of default rating.

The outlook remains stable.

The existing bank facilities at MA FinanceCo., LLC are amended and complemented by additional new loans at both MA FinanceCo. and Seattle Spinco, Inc. to support Micro Focus' merger with the Software Business Segment of Hewlett Packard Enterprise Co, which is expected to close in the third quarter of 2017.

Moody’s said the B1 rating for the bank facilities is in line with the corporate family rating and reflects the pari passu structure with shared security and guarantee packages.

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