Avast Holding B.V. -- Moody's affirms Avast's Ba3 rating; stable outlook

Assigns (P)Ba3 rating to new senior secured first lien credit facilitiesLondon, 22 July 2016 -- Moody's Investors Service has affirmed the Ba3 corporate family rating (CFR) and Ba3-PD probability of default rating (PDR) of global provider of security software Avast Holding B.V., following an announcement that the company is borrowing USD 1,600 million (equivalent) of senior secured first lien term loan B to (1) fund the acquisition of AVG Technologies N.V. (B1 stable), (2) refinance Avast's and AVG's existing debt and (3) pay for transaction expenses. Moody's has also affirmed the Ba3 rating on the USD 274 million senior secured term loan and USD 40 million revolving credit facility of Avast Software B.V. The outlook on all ratings remains stable.

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