Moody’s assigns GT Polaris B3, first-lien facility B3

Moody’s Investors Service said it assigned GT Polaris, Inc., a corporate family rating of B3 and a probability of default rating of B3-PD.

Concurrently, Moody’s assigned a B2 rating to the issuer’s proposed senior secured first-lien credit facility, comprised of a $700 million term loan and an undrawn $80 million revolver.

The proceeds, as well as GT Polaris’ unrated $280 million second-lien term loan, will be used to partially fund the consolidation of Orion Advisor Solutions and Brinker Capital by Genstar Capital and TA Associates to form GT Polaris.

Once the transaction is completed, Moody’s said it expects the debt of predecessor NorthStar Financial Services Group, LLC (Orion) to be repaid and all its NorthStar ratings to be withdrawn.

The outlook is stable.

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