Moody's assigns McGraw Hill LLC B3

Moody's Investors Service said it assigned B3 corporate family rating and B3-PD probability of default rating to McGraw Hill LLC following the company's change in its organizational structure. The outlook is stable. There is no change to existing instrument ratings. Moody's also withdrew corporate family rating, probability of default rating and rating outlook for McGraw-Hill Global Education Holdings, LLC.

As part of the change in the organizational structure, the initial debt issuer, McGraw-Hill Global Education Holdings, was merged into McGraw-Hill School Education LLC, which was renamed to McGraw Hill LLC. The new entity has assumed all debts and liabilities of McGraw-Hill Global Education Holdings. McGraw-Hill Global Education Intermediate Holdings, LLC remains a guarantor under the first-lien credit agreement.

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