Moody's assigns B2 Hunter Holdco 3

Moody's Investors Service said it assigned a B2 corporate family rating and a B2-PD probability of default rating to Hunter Holdco 3 Ltd. (Ashfield Huntsworth).

Concurrently, the agency withdrew the B2 corporate family rating, B2-PD probability of default rating and outlook of Nenelite Ltd. This change will align the entity level ratings with the parent company and financial filer for Ashfield Huntsworth.

Moody's also affirmed the B1 first-lien instrument ratings assigned to Hunter US Bidco Inc. The affirmation follows the fungible add-on of about $200 million to the about $1.8 billion of first-lien debt.

Proceeds from the add-on and cash on hand, will be used to fund a tax liability associated with the December 2021 disposal of the company's Sharp packaging segment and to fund the purchase of Research Partnership, a full-service market insights and consultancy business servicing the pharmaceutical and medical industry.

The outlook is stable.

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