Moody's gives Freedom Mortgage bond B2

Moody's Investors Service said it assigned a B2 rating to Freedom Mortgage Corp.'s planned $600 million of senior unsecured bond due in 2028.

“Moody's has rated the senior unsecured bond B2 based on Freedom's B1 corporate family rating (CFR) and the unsecured bond's priority ranking in the company's capital structure,” the agency said in a press release.

Freedom will enter supplemental indentures for the notes along with the company's unsecured notes maturing in 2026 and 2027 whereby a new holding company, Freedom Mortgage Holdings LLC, shall automatically succeed Freedom.

The outlook is stable.

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