Moody’s rates nThrive loans B2, Caa2

Moody’s Investors Service said it gave MedAssets Software Intermediate Holdings, Inc.'s (nThrive Inc.) planned $1.265 billion first-lien seven-year term loan and $150 million five-year revolver B2 ratings. The agency also assigned a Caa2 rating to the company’s expected eight-year second-lien $460 million term loan.

The proceeds, $400 million in new common equity and $310 million in new preferred equity (pro forma preferred equity will total $460 million at closing), are expected to fund the $1.735 billion purchase of TransUnion Healthcare's assets from TransUnion, repay credit facilities, and pay transaction fees and expenses. The B2 rating on the existing first-lien credit facilities will be withdrawn upon repayment.

Moody’s also affirmed the B3 corporate family rating and B3-PD probability of default rating.

The outlook is stable.

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