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Moody's gives Interactive Data notes Caa2
Moody's Investors Service said it assigned a Caa2 rating to Interactive Data Corp.'s proposed $200 million senior unsecured notes due 2019.
The outlook is stable.
Interactive Data is the wholly owned operating subsidiary of Igloo Holdings Corp.
Proceeds from the note offering and the new $2.21 billion senior credit facility plus cash will be used to refinance the existing term loan B (about $1.3 billion outstanding), redeem the 10¼% senior unsecured notes ($700 million outstanding) and pay an estimated $273 million dividend to equity sponsors Silver Lake Technology Management LLC and Warburg Pincus LLC, management and option holders.
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