Moody’s rates SuperMoose loans B2, Caa2

Moody's Investors Service said it assigned to SuperMoose Borrower, LLC a B3 corporate family rating, a B3-PD probability of default rating, a B2 to the proposed senior secured first-lien term loan and revolving credit facilities and a Caa2 to the proposed senior secured second-lien term loan.

The outlook is stable.

The proceeds of the proposed debt along with rolled-over and new cash equity from affiliates of Bain Capital Private Equity and Vista Equity Partners will be used purchase Palermo TT Holdings, Inc., Ramundsen Holdings, LLC and Aptean, Inc.'s local government enterprise resource planning software business.

Proceeds will also be used to fund $25 million of cash to the balance sheet and pay transaction-related fees and expenses.

"Moody's anticipation of low single digit revenue growth and over 500 basis points of profitability rate improvement from planned cost reduction initiatives drive the B3 corporate family rating despite the very high financial leverage and business integration-related risks from the three-way merger," Edmond DeForest, Moody's senior credit officer, said in a news release.

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