Moody's rates athenahealth loans B2

Moody's Investors Service said it assigned a B3 corporate family rating and B3-PD probability of default rating to athenahealth Group Inc. following the company’s acquisition by private equity firms Hellman & Friedman, Bain Capital and GIC.

Concurrently, Moody's said it assigned a B2 rating to athenahealth's first-lien credit facilities consisting of a $5.75 billion term loan B, $1 billion delayed-draw term loan B and $1 billion revolver.

The outlook is stable.

Net proceeds from the term loan, other unsecured debt, preferred and common equity will be used to acquire athenahealth for around $17 billion from Veritas Capital and Evergreen Coast Capital.

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