GI Peak Merger Sub Corporation -- Moody's assigns B3 to Peak 10 acquisition financing

New York, May 28, 2014 -- Moody's Investors Service has assigned a B3 corporate family rating (CFR) and B3-PD probability of default rating (PDR) to GI Peak Merger Sub Corporation ("Peak 10" or "the company"), the financing entity established to acquire Peak 10, Inc.. In addition, Moody's has assigned a B2 (LGD3-36%) rating to the proposed $395 million senior secured 1st lien credit facilities and a Caa2 (LGD5-88%) rating to the $130 million senior secured 2nd lien term loan which will be used to finance the private transaction. The outlook is stable. Upon completion of the transaction, Moody's will withdraw the B3 CFR and associated debt ratings from Peak 10, Inc.

Vollständigen Artikel bei Moodys lesen