Moody’s changes ASP MCS view

Moody's Investors Service said it affirmed ASP MCS Acquisition Corp.'s B2 corporate family rating, B2-PD probability of default rating and B2 senior secured first-lien debt ratings.

The outlook was revised to negative from stable.

The company is seeking commitments for a $55 million incremental term loan to finance its acquisition of the property preservation assets of Carrington Home Solutions, LP from Carrington Holding Co., LLC in addition to transaction-related expenses.

The transaction is expected to close in December.

The agency said the change in outlook reflects Moody's expectation that debt-to-EBITDA will remain elevated above 5 times over the next 12 to 18 months.

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