Syniverse Holdings, Inc. -- Moody's assigns B1 rating to Syniverse's new term loan

New York, January 22, 2013 -- Moody's Investors Service has assigned a B1 (LGD3-39%) rating to Syniverse Holdings Inc.'s ("Syniverse" or "the company") new $625 million senior secured delayed draw term loan due April 2019. The proceeds from the new term loan, along with cash on hand, will be used to finance the company's EUR550 million (US$ 715 million) acquisition of The MACH Group ("MACH"). Also, due to the increase in secured debt in the capital structure, Moody's has changed the LGD assessment on the company's $475 million senior unsecured notes due 2019 to Caa1 (LGD6-91%) from Caa1 (LGD5-87%). As part of the rating action, Moody's has also affirmed Syniverse's B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating (PDR). The outlook remains stable.

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