Moody's Investors Service, ("Moody's") affirmed the B2 Corporate Family Rating ("CFR") of Presidio Holdings Inc. (New) ("Presidio ") and assigned a B1 rating to the company's proposed senior secured notes and Caa1 to the proposed senior unsecured notes. Proceeds from the new notes will be used to 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. Earlier this week, Moody's assigned ratings to Presidio's new credit facilities which will also be used to refinance outstanding acquisition bridge debt. Read More...
Moody’s Investors Service, (“Moody’s”) affirmed the B2 Corporate Family Rating (“CFR”) of Presidio Holdings Inc. (New) (“Presidio “) and assigned a B1 rating to the company’s proposed senior secured notes and Caa1 to the proposed senior unsecured notes. Proceeds from the new notes will be used to 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. Earlier this week, Moody’s assigned ratings to Presidio’s new credit facilities which will also be used to refinance outstanding acquisition bridge debt.
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