Moody's assigns Ba2 rating to Frontdoor's new senior secured credit facility
Moody's Ratings (Moody's) assigned a Ba2 rating to Frontdoor, Inc.'s ("Frontdoor", "the company") proposed new senior secured credit facility consisting of a new $250 million revolver due 2029, a new $418 million term loan A due 2029 and a new $800 million term loan B due 2031. Proceeds from the new...Frontdoor is a provider of home service plans in the U.S., and operates under the American Home Shield, HSA, OneGuard and Landmark brands. The company's home service plans help customers protect and maintain their homes, typically their asset, from costly and unplanned breakdowns of essential home systems and appliances. The company's home service plans cover the repair or replacement of main components of household systems and appliances, including electrical, plumbing, central heating, ventilation and air conditioning systems, water heaters, refrigerators, dishwashers and ranges/ovens/cooktops. The company serves customers across various states and the District of Columbia.
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76,000 structured finance obligations
Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.
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