08.05.2013 18:37:00
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YP Holdings LLC -- Moody's assigns B2 corporate family rating to YP
New York, May 08, 2013 -- Moody's Investors Service ("Moody's") assigned a B2 corporate family rating and a B3-PD probability of default rating for YP Holdings LLC ("YP" or "the company"). The ratings agency also assigned a B2 (LGD3-40%) rating to the company's $775 million senior secured term loan B due 2018. YP plans to use the borrowings from the term loan and new $450 million senior secured asset-based revolver (unrated) to refinance existing debt, pay a one-time distribution to shareholders and pay related fees and expenses.