Form 8-K ON ASSIGNMENT INC For: May 18
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On Assignment (ASGN) Ratings Affirmed by Moody's Amid Creative Circle Acquisition
May 19, 2015 10:08 AM EDTMoody's Investors Service affirmed On Assignment's (NYSE: ASGN) ("On Assignment") Ba2 Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating, and assigned Ba2 ratings to the company's proposed $975 million of senior secured credit facilities. Moody also affirmed On Assignment's SGL-2 Speculative Grade Liquidity rating. The ratings have a stable outlook. On Assignment will use the proceeds from the $875 million of Term Loan B to refinance existing debt and complete the acquisition of Creative Circle for $600 million, including up to $30 million of contingent consideration.
RATING RATIONALE
Pro forma for the acquisition, On... More
