Moody’s rates Omnia loans B2, Caa2

Moody's Investors Service said it assigned a B3 corporate family rating and B3-PD probability of default rating to National Intergovernmental Purchasing Alliance Co. (NIPA), a wholly owned subsidiary of Omnia Partners, Inc.

At the same time, the agency assigned a B2 rating to company's proposed senior first-lien term loan and revolver and a Caa2 to its second-lien term loan.

The outlook is stable.

Proceeds will be used to partially finance the acquisition of Communities Program Management, LLC, as well as to refinance the existing capital structure.

"Omnia Partners is a small player in a niche service segment, however it will benefit from high EBITDA margins and good free cash flow generation for a company of its size, which will help it deleverage," Vladimir Ronin, Moody's lead analyst, said in a news release.

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