Moody's rates LHS B2, facility B1

Moody's Investors Service said it assigned B2 corporate family and B2-PD probability of default ratings to LHS Borrower, LLC. The agency also assigned a B1 rating to the company's planned senior secured credit facilities consisting of a seven-year $1.41 billion term loan and a $200 million revolving credit facility.

"LHS has grown its business exponentially over the past several years and generated healthy EBITA margins and robust free cash flow through successful execution of its direct-to-consumer (DTC) business model and impactful LeafFilter gutter protection product. A primary focus now is to implement the DTC model through additional verticals and diversify the business mix, while continuing to grow," said Scott Manduca, a Moody's vice president, in a press release.

Term loan proceeds will be used to repay the company's outstanding term loan and pay fees and expenses associated with the transaction.

The outlook is stable.

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