07.04.2015 19:34:00
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USIC Holdings, Inc -- Moody's says that the increase in USIC's debt in connection with an acquisition has no ratings impact
New York, April 07, 2015 -- Moody's Investors Service said that USIC Holdings, Inc.'s ("USIC") proposed $40 million tack-on first lien term loan, which will be used to finance the company's acquisition of Premier Utility Services ("Premier"), does not impact the company's ratings, including its B3 corporate family rating, or stable rating outlook. The transaction is credit neutral given that, despite an increase in debt, the company's leverage is estimated to remain unchanged due to incremental earnings contributed by Premier.