ProQuest LLC -- Moody's upgrades ProQuest CFR to B2 and assigns rating to new term loan

New York, September 08, 2014 -- Moody's Investors Service (Moody's) upgraded the corporate family rating (CFR) for ProQuest LLC (ProQuest) to B2 from B3 and assigned a B2 rating to the proposed $435 million 1st lien term loan due 2021. The use of proceeds is to refinance its existing credit facility and senior unsecured note as well as pay transaction fees and expenses. As part of the transaction, ProQuest also announced a $60 million first out revolver due 2019 (not rated by Moody's). In addition, the existing first lien credit facility was upgraded to Ba2 from Ba3 and the existing senior unsecured note was upgraded to B3 from Caa1, although the credit facility and note rating are expected to be withdrawn upon repayment. The rating outlook remains stable.

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