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Moody’s gives B2 to Sedgwick loan
Moody's Investors Service said it assigned a B2 rating to Sedgwick Claims Management Services Inc.’s new $1.1 billion term loan.
Sedgwick will use the loan to help it acquire York Risk Services Holding Corp.
The company’s total loans and notes will increase to more than $4.7 billion.
Moody’s affirmed its B3 corporate family rating, B3-PD probability of default rating and the B-2 ratings on the company’s first-lien revolver, being upsized to $400 million, and term loan.
The outlook is stable.
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