09.12.2014 19:50:00

RentPath, Inc. -- Moody's says RentPath's proposed $30 million change in debt structure does not impact the ratings

New York, December 09, 2014 -- Moody's says RentPath, Inc's (RentPath) $30 million shift of second lien debt to first lien debt will not impact the B2 corporate family rating, B1 rating on the first lien credit facility, or the Caa1 rating on the second lien term loan. The outlook remains stable. The change will reduce the second lien term loan to $170 million from $200 million and increase the first lien term loan to $505 million from $475 million. Higher interest expense due to changes in proposed pricing is expected to lead to modestly lower free cash flow pro-forma for the transaction.

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