CRCI Holdings, Inc. -- Moody's says CLEAResult's / CR's debt reduction is net credit positive, despite cash balances going down and a near-term revolver draw.

New York, August 25, 2016 -- Moody's Investors Service (Moody's) said that there is no impact to CR's B2 Corporate Family Rating (CFR) or B2 senior secured credit facility ratings, following the company's announcement to i) decrease its proposed senior secured term loan ("TL") to $285 million from $330 million, ii) increase the cash used from its balance sheet to about $16.6 million from about $6.6 million (leaving it with minimal cash balances at closing) and iii) draw up to $10 million on its revolver post-closing for an additional dividend payout, which we anticipate will be repaid within 6 months. The proceeds from the proposed TL and the cash from CR's balance sheet will be used to refinance existing debt at CR and pay a dividend to CR's shareholders, as previously planned.

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