Constellis Holdings, LLC -- Moody's assigns B3 rating to Constellis' planned $450 million, five year notes

New York, May 06, 2015 -- Moody's Investors Service has assigned a B3 rating to the planned $450 million, five year second lien notes of Constellis Holdings, LLC ("Constellis"), and affirmed all other ratings, including the B3 Corporate Family Rating. The rating outlook is stable. Proceeds of the notes along with borrowings under a new $125 million asset-based revolving credit facility (unrated) will fund the pending acquisition of Olive Group Holdings Ltd. ("Olive"), a $42 million dividend, and $50 million that Olive's owners will use to purchase equity from Constellis' owners. Constellis was formerly known as Academi Holdings LLC, and one of its predecessor companies was known as Blackwater.

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