Moody’s gives B2 to CareerBuilder, facilities

Moody's Investors Service said it assigned CareerBuilder, LLC a corporate family rating of B2, a probability of default rating of B2-PD and B2 ratings to its senior secured first-lien revolving credit facility and term loan were assigned.

The outlook is stable.

Proceeds from the rated debt and equity from a group of investors led by affiliates of Apollo Global Management, LLC will be used to purchase the company for about $500 million.

Moody’s said the B2 corporate family rating reflects continuing pricing pressure in CareerBuilder's core on-line job board service, which accounts for over 40% of anticipated 2017 revenues, to drive overall revenue and EBITDA declines, but also for moderate financial leverage around 3 times and solid interest coverage over 3 times.

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