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Ellie Mae, Inc. -- Moody's assigns B3 CFR to Ellie Mae, Inc.; outlook stable

Moody's Investors Service ("Moody's") assigned first time ratings to Ellie Mae, Inc. ("Ellie Mae") with a Corporate Family Rating ("CFR") of B3 and a Probability of Default Rating ("PDR") of B3-PD. Concurrently, Moody's assigned a B2 rating to the issuer's proposed senior secured first lien credit facility, comprised of a $965 million term loan and an undrawn $75 million revolver. The proceeds of the new debt financing, which also includes a proposed $385 million second lien term loan (unrated), will be used to partially fund the purchase of Ellie Mae by Thoma Bravo, LLC ("Thoma Bravo") for approximately $3.7 billion (including fees).