Moody’s rates Shift4 notes B2

Moody’s Investors Service said it assigned a B2 rating to Shift4 Payments, LLC’s planned senior notes.

“The B2 facility rating for the unsecured notes, in line with the B2 CFR, reflects the fact that the notes comprise the preponderance of Shift4’s debt capital structure,” Moody’s said in a press release.

Proceeds will be used to refinance its secured term loan.

The agency also upgraded the first-lien senior secured revolving credit facility rating to Ba2 from B2. The first-lien term loan rating of B2 will be withdrawn after its repaid.

Moody’s affirmed Shift4’s B2 corporate family and B2-PD probability of default ratings.

The outlook remains positive.

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