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Moody's rates CCC Intelligent Solutions loans B1
Moody's Investors Service said it assigned a B1 corporate family rating, a B1-PD probability of default rating and an SGL-1 speculative-grade liquidity rating to CCC Intelligent Solutions Holdings Inc.
Moody's also assigned B1 instrument ratings to CCC Intelligent Solutions Inc.'s (a wholly owned subsidiary of CCC) new first-lien senior secured credit facilities, which include a $250 million revolving credit facility and a $800 million term loan.
Moody's also withdrew CCC Intelligent Solutions Inc.'s (formerly known as CCC Information Services Inc.) existing B3 CFR and B3-PD PDR ratings. The existing first-lien senior secured instrument ratings will be withdrawn upon repayment.
The outlook is stable.
The ratings action follows CCC's go-public transaction, debt repayment and proposed debt issuance.
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