Our credit view of HMH, reflecting its aggressive financial policy under private equity ownership, high leverage and cyclicality, counterbalanced by its solid position in K-12 publishing.
Rating Action: Moody's assigns B3 CFR to Houghton Mifflin in connection with buyout by Veritas; outlook stable. Global Credit Research- 22 Mar 2022. Approximately $1.7 billion in new debt securities rated.