Moody’s: Bay Club unaffected by sale

Moody's Investors Service said that the announced sale of Bay Club Co., the indirect parent of BC Equity Ventures LLC (B3, stable), to funds affiliated with KKR & Co. Inc. has no current impact on ratings.

“While the transaction is expected to increase debt and corresponding leverage, the terms of the transaction have not yet been disclosed,” the agency said in a news release.

“Bay Club's B3 corporate family rating and stable outlook are not currently impacted by the announcement as it is unclear how much debt will increase. In addition, we expect all existing debt will be repaid, and all existing instrument ratings will be withdrawn.”

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