Moody's gives Advantage Sales revolver B1

Moody's Investors Service said it affirmed the B2 corporate family rating of Advantage Sales & Marketing Inc. in anticipation of the company's planned $225 million add-on to its existing first-lien senior secured term loan.

The outlook was changed to stable from positive.

The agency also assigned a B1 rating to the company's proposed $150 million first-lien senior secured revolving credit facility due 2017.

Moody's affirmed the company's B2-PD probability of default rating, the B1 rating for the $1,215,000,000 (upsized from $990 million) first-lien senior secured term loan due 2017 and the Caa1 rating on the second-lien term loan.

Advantage Sales plans to use a portion of the proceeds from the add-on to finance the purchase consideration for the roughly 31% interest in Advantage Waypoint LLC that it doesn't currently own. The balance of proceeds will be used to fund future strategic initiatives and pay related transaction fees and expenses.

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