Moody’s rates Anticimex loan B2

Moody’s Ratings said it assigned a B2 rating to Anticimex Inc.'s planned $400 million backed senior secured first-lien term loan B6 add-on due in 2028.

Concurrently, Moody's said it affirmed Anticimex Global AB's B3 corporate family rating, B3-PD probability of default rating, as well as all B2 ratings on the senior secured term loan B2 and the senior secured revolving credit facility.

In addition, the agency said it affirmed Anticimex Inc.'s B2 ratings on the backed senior secured term loans B1, B4, and B5 and affirmed Anticimex Pty Ltd.'s B2 rating on the backed senior secured term loan B3.

The outlook on Anticimex remains stable and the outlook assigned to Anticimex Pty and Anticimex Inc. is stable.

Anticimex will use the new loan to repay the SEK 1.736 billion of borrowings under the revolver due in May 2028, boost cash balances by SEK 36 million and refinance its $200 million senior secured first-lien term loan B5 tranche due in November 2028. Additionally, the company wants to upsize the revolver to SEK 4.1 billion from SEK 3 billion. Upon completion of the refinancing of the TLB5, Moody's said it will withdraw the ratings on the TLB 5 instrument.

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