Moody's gives HAH Group add-on loan B1

Moody's Investors Service said it gave a B1 rating to HAH Group Holding Co., LLC's (Help at Home) $205 million incremental senior secured first-lien term loan.

All other ratings, including the B1 ratings on the senior secured first-lien bank credit facilities and Caa1 rating on the senior secured second-lien term loan, remain unchanged, the agency said.

The proceeds and about $150 million of new and rollover equity will be used to fund two acquisitions.

“The incremental financing is credit negative as it will increase leverage to approximately seven times on a Moody's adjusted basis, leaving very little room in the current rating for additional acquisitions of scale. However, the financing will also improve liquidity by upsizing the revolving credit facility to $131 million from $74 million,” Moody’s said in a press release.

The outlook remains stable.

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