Moody’s rates Confluent loan B3

Moody's Investors Service said it assigned a B3 rating to Confluent Health, LLC's $95 million incremental backed senior secured first-lien term loan due November 2028.

The agency said it also affirmed Confluent's ratings including the B3 corporate family rating, the B3-PD probability of default rating and B3 ratings on the backed senior secured first-lien credit facilities, including the backed senior secured first-lien revolving credit facility, backed senior secured first-lien term loans, and backed senior secured first-lien delayed-draw term loan.

Confluent plans to use $36 million of the new loan to fund these acquisitions, $55 million to fully pay down the revolver balance at Dec. 31, 2023, and to add cash to the balance sheet and pay fees.

The outlook remains stable.

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