Moody's moves McAfee view to stable

Moody's Investors Service said it affirmed the B3 corporate family rating and B3-PD probability of default rating for Magenta Buyer LLC (McAfee Enterprise) and changed the outlook to stable from positive.

Moody's also affirmed the B2 rating to the upsized first-lien term loan and Caa2 rating to the upsized second-lien term loan.

“The outlook revision to stable from positive reflects McAfee Enterprise's high leverage and aggressive financial policy as evidenced with the FireEye acquisition while also restructuring operations and separating as a stand-alone company. The high leverage limits McAfee Enterprise's financial flexibility, which magnifies the impact of any performance deterioration or integration execution errors,” the agency said in a press release.

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