Moody's rates Software Luxembourg loans B1, Caa1

Moody's Investors Service said it assigned to Software Luxembourg Acquisition Sarl (Skillsoft) a Caa1 corporate family rating and Caa1-PD probability of default rating.

Concurrently, Moody's assigned a B1 rating to the company's senior secured first-out first-lien term loan facility and a Caa1 rating to the company's senior secured second-out first-lien term loan facility.

Proceeds from the new credit facilities were used to refinance the company's DIP loan facility, pay bankruptcy and restructuring fees, fund associated transaction fees and expenses and add to the company’s cash position.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.