NAB Holdings, LLC -- Moody's assigns B1 rating to North American Bancard's credit facilities; affirms B1 CFR

New York, April 30, 2014 -- Moody's Investors Service affirmed NAB Holdings, LLC's ("NAB", the parent company of North American Bancard Holdings, Inc.) B1 corporate family rating (CFR), B2-PD probability of default rating, and assigned a B1 rating to the company's proposed $220 million of senior secured credit facilities. NAB will use the proceeds to mainly refinance existing bank facilities and pay a special dividend of $50 million to its shareholder. The ratings outlook remains stable. Moody's will withdraw the ratings for the company's existing first lien credit facilities at the close of the proposed transaction.

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