Moody's rates HomeServe loans B1

Moody's Investors Service said it assigned to HomeServe USA Holding Corp. (d/b/a HomeServe North America, "HomeServe"), a first-time B1 corporate family rating and a B1-PD probability of default rating.

Concurrently, Moody's assigned B1 ratings to HomeServe's proposed first-lien senior secured credit facilities consisting of a $150 million revolver expiring 2028 and a $1.05 billion term loan due 2030.

The outlook is stable.

Proceeds from the term loan, along with $19 million of cash, will be used to refinance its existing $559 million term loan A, fund a distribution to shareholders and pay fees and expenses for the transaction. Moody's expects the revolver to be undrawn at transaction close.

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