Moody’s rates LANDesk facilities B2, Caa2

Moody's Investors Service said it assigned a B3 corporate family rating and B3-PD probability of default rating to LANDesk Acquisition Vehicle.

The agency also assigned B2 ratings to the first-lien credit facilities and a Caa2 rating to the second-lien credit facility.

The outlook is stable.

Clearlake Capital proposes to purchase LANDesk Group, Inc. from Thoma Bravo and combine LANDesk Group with its portfolio company Heat Software Inc. Upon consummation of the merger, LANDesk Acquisition will be renamed LANDesk Software Group, Inc.

Moody’s said the assigned ratings for LANDesk Acquisition are contingent upon Clearlake acquiring LANDesk Group, at which point LANDesk Group's (B2, negative outlook) and Landslide Holdings, Inc.'s existing debt ratings will be withdrawn.

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