Moody's assigns B3 to Artera loan

Moody's Investors Service said it assigned a B3 rating to Artera Services, LLC's proposed $775 million incremental first-lien term loan.

Artera's B3 corporate family rating, B3-PD probability of default rating, B3 senior secured first-lien revolver and term loan ratings and the Caa2 rating on its senior secured second-lien term loan remain unchanged, Moody’s said.

The company plans to use the term loan proceeds to fund the acquisition of Feeney Utility Services Group and K.R. Swerdfeger.

The outlook remains stable.

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