Moody’s gives Ba2 to ADT notes

Moody's Investors Service said it assigned a Ba2 rating to ADT Corp.’s new senior unsecured note issuance and affirmed all other ratings, including the Ba2 corporate family rating, the Ba2 rating on all existing senior unsecured debt and the SGL-2 speculative grade liquidity rating.

The outlook remains stable.

ADT anticipates using proceeds from the new note issuance to repay in full the $400 million currently outstanding under its revolving credit facility.

Moody’s said the Ba2 rating on the new and existing notes reflects ADT's all-senior-unsecured-debt capital structure, whereby the credit risk of the facilities directly mirrors the credit risk of the company itself.

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