Moody’s rates MetroNet loans B2

Moody’s Investors Service said it assigned a B2 rating to the MetroNet Systems Holdings, LLC’s senior secured first-lien facilities, which consist of a $55 million revolver and a $240 million term loan. The financing will also include an $85 million senior secured second-lien facility that won’t be rated.

Moody’s assigned B3 corporate family and probability of default ratings to the company.

Proceeds will be used to refinance existing debt, fund a distribution to the Development Group, fund capital expenditures and pay related fees and expenses.

The outlook is stable.

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