Moody's rates ZoomInfo Technologies Ba3

Moody's Investors Service said it assigned to ZoomInfo Technologies, Inc. a Ba3 corporate family rating and a Ba3-PD probability of default rating.

“The CFR and PDR were effectively upgraded from B1 and B1-PD, respectively, as these ratings had been assigned to ZoomInfo, LLC. The CFR and PDR are now assigned where the financial statements are issued; the B1 CFR and B1-PD PDR assigned at ZoomInfo, LLC were withdrawn,” Moody’s said in a press release.

Moody's also upgraded ZoomInfo, LLC's senior secured first-lien credit facility, consisting of a $250 million revolving credit facility expiring in 2025 and $600 million term loan maturing in 2026, to Ba1 from Ba2 and the $650 million of senior unsecured notes due 2029 issued by ZoomInfo Technologies LLC to B1 from B3. ZoomInfo's speculative grade liquidity rating is SGL-1.

“The effective upgrade of the CFR to Ba3 from B1 reflects ZoomInfo's growing scale, recurring revenue model with historically high customer net retention rates, strong profitability, and the perceived value of its product offering,” the agency said.

The outlook is stable for all entities.

© 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.