Moody's Investors Service ("Moody's") assigned a B2 Corporate Family Rating ("CFR") and a B2-PD Probability of Default Rating ("PDR") to Presidio Holdings Inc. (New) ("Presidio "). Proceeds from the new term loan will be used to partially refinance acquisition bridge financing which, along with $855 million in contributed and rolled over equity, funded the roughly $2.2 billion acquisition of Presidio by BC Partners Advisors L.P. ("BC Partners") that closed on December 19, 2019. Moody's expects additional new secured and unsecured debt facilities will be raised in the near term to completely repay acquisition bridge financing. Read More...
Moody’s Investors Service (“Moody’s”) assigned a B2 Corporate Family Rating (“CFR”) and a B2-PD Probability of Default Rating (“PDR”) to Presidio Holdings Inc. (New) (“Presidio “). Proceeds from the new term loan will be used to partially refinance acquisition bridge financing which, along with $855 million in contributed and rolled over equity, funded the roughly $2.2 billion acquisition of Presidio by BC Partners Advisors L.P. (“BC Partners”) that closed on December 19, 2019. Moody’s expects additional new secured and unsecured debt facilities will be raised in the near term to completely repay acquisition bridge financing.
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