Moody’s: Greenlight Merger loans B1, Caa1

Moody's Investors Service said it assigned a B2 corporate family rating and B2-PD probability of default rating to Greenlight Merger Corp.

Concurrently, the agency assigned a B1 to the proposed $325 million senior secured first-lien term loan and a Caa1 to the proposed $100 million senior secured second-lien term loan.

The outlook is stable.

Greenlight Merger is a new legal entity that was established as part of a transaction whereby an affiliate of Platinum Equity is acquiring American Traffic Solutions (ATS). Greenlight Merger will be the initial borrower under the credit facilities.

Following the consummation of the buyout, Greenlight Merger will merge with ATS Consolidated, Inc. and ATS Consolidated, will be the surviving entity. ATS Consolidated is the holding company for the operating subsidiaries of American Traffic Solutions

The transaction is expected to close by the end of May.

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