Moody’s rates Signant facility B3

Moody’s Investors Service said it assigned B3 ratings to Bracket Intermediate Holding Corp.'s (Signant Health) planned senior secured first-lien bank credit facility, comprised of an $80 million revolving credit facility expiring in 2028, $850 million term loan due in 2028 and $130 million delayed-draw term loan due in 2028.

The new $850 million term loan will be used to fully repay the company's $581 million first-lien term loan and unrated $230 million second-lien term loan, along with paying transaction fees and expenses. Additionally, the delayed-draw term loan will effectively be fully used to fund a pending acquisition.

Upon the close of the refinancing, Moody's said it will withdraw the ratings on the outstanding first-lien bank credit facility concurrent with the associated repayment of Signant Health's debt obligations.

Moody’s also affirmed Signant’s B3 corporate family rating and B3-PD probability of default rating.

The outlook remains stable.

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