Moody’s gives Dysart Merger loans Ba3, B1

Moody's Investors Service said it assigned a B3 corporate family rating and B3-PD probability of default rating to Dysart Merger Sub, Inc., the acquisition vehicle formed to effectuate the acquisition by Veritas Capital of Alion Science & Technology Corp. (Caa1, under review for downgrade).

Concurrently, the agency rated the company's proposed $40 million first-out revolving credit facility Ba3 and $300 million senior secured first-lien term loan B1.

The outlook is stable.

Dysart intends to use the proceeds from the transaction together with $140 million of new unsecured mezzanine notes and a $326 million equity contribution from Veritas Capital and its affiliates to finance the $715 million acquisition of Alion as well as pay transaction fees and expenses and fund balance sheet cash.

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