Moody’s gives Apollo Security loans B1, Caa1

Moody's Investors Service said it assigned a B2 corporate family rating to Apollo Security Services Borrower, LLC, which is being formed by affiliates of sponsor Apollo Global Management to effect the simultaneous $2.1 billion acquisitions of both Protection One and ASG Security.

The agency also assigned B1 and Caa1 ratings to the borrower's $1.15 billion first-lien and $300 million second-lien secured credit facilities, respectively.

The outlook is stable.

Upon closing of the simultaneous acquisitions and merger, Moody's will withdraw the ratings, including the existing B2 corporate family rating of Protection One, Inc.

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