Moody's rates HireRight B2

Moody's Investors Service said it assigned HireRight Holdings Corp. a B2 corporate family rating, a B2-PD probability of default rating and a speculative grade liquidity rating of SGL-1. The agency also affirmed wholly owned subsidiary Genuine Financial Holdings, LLC's senior secured first-lien credit facility, including $100 million revolver due 2023 and $835 million term loan, with $710 million outstanding, pro forma for the debt repayment, due 2025 rating at B2.

The rating actions follow the company's repayment of $110 million of loans outstanding under the first-lien credit agreement, including $10 million under the revolver, and all $215 million of its senior secured second-lien term loan with net proceeds from HireRight's recent IPO.

Moody’s withdrew the B3 CFR and B3-PD PDR assigned at Genuine Financial, along with the Caa2 second-lien term loan rating.

The outlook is stable.

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