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IAA Spinco Inc. -- Moody's assigns Ba3 to IAA Spinco Inc.; outlook is stable

Ratings assigned to $1.1 billion of senior secured debt as part of the company's tax free spin-off from KAR Auction Services, Inc. New York, May 10, 2019 -- Moody's Investors Service ("Moody's") assigned IAA Spinco Inc. ("IAA") a Ba3 Corporate Family Rating and a Ba3-PD Probability of Default Rating. The company also intends to issue approximately $400 million of other unsecured debt, which is unrated at this point.