Moody's gives Ba3 to Health and Happiness notes

Moody's Investors Service said it assigned a Ba3 senior unsecured rating to the proposed senior notes to be issued by Health and Happiness (H&H) International Holdings Ltd. (Ba2 negative).

H&H will use the bond proceeds to refinance the term loan facility and the senior revolving credit facility, which were used to fund a portion of the total amount payable for the acquisition of Zesty Paws, LLC.

On Oct. 4, 2021, H&H announced the completion of the acquisition of Zesty Paws.

“The proposed issuance, if successful, will improve H&H's liquidity profile by securing longer-term funding for the acquisition,” said Shawn Xiong, a Moody's assistant vice president and analyst, in a news release.

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