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Published on 6/7/2021 in the Prospect News Bank Loan Daily.

Moody's gives B3 to Culligan loans

Moody's Investors Service said it assigned ratings to AI Aqua Merger Sub, Inc. (dba Culligan), including a B3 corporate family rating and a B3-PD probability of default rating.

Concurrently, Moody's assigned a B3 rating to the company's proposed senior secured first-lien credit facility, consisting of a $225 million first-lien revolver due 2026, a $2 billion first-lien term loan due 2028, and a $250 million first-lien delayed-draw term loan due 2028.

The outlook is stable.


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