Moody’s rates Ahead DB term loan B1

Moody's Investors Service said it affirmed Ahead DB Holdings, LLC's B2 corporate family rating, B2-PD probability of default rating, B1 debt instrument ratings for the existing backed senior secured first-lien bank credit facility, including the revolver and $617 million outstanding term loan due October 2027, and Caa1 debt instrument rating for the existing $400 million senior notes due 2028.

Moody's assigned a B1 rating to the proposed $600 million backed senior secured first-lien term loan.

The outlook remains stable.

Net proceeds from the proposed $600 million first-lien term loan, in combination with a draw on the existing accounts receivable facility and equity, will be used to fund the acquisition of computer design and integration, LLC.

“The acquisition will enhance Ahead's scale, expand geographic and customer diversification, and facilitate opportunities for cross-selling,” Moody’s said in a news release.

“While Ahead has a good track record in assimilating acquisitions, the CDI acquisition will be one the largest in the company's history, which heightens integration and execution risks.”

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