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Verscend Holding Corp. -- Moody's affirms Verscend's B3 CFR after Cotiviti acquisition announcement; rates new first-lien debt B3, unsecured notes Caa2; outlook stable

Moody's Investors Service ("Moody's") affirmed healthcare-data-analytics-services provider Verscend Holding Corp.'s ("Verscend") B3 Corporate Family Rating ("CFR") and its B3-PD Probability of Default Rating ("PDR") after its announcement that it will be acquiring Cotiviti Holdings, Inc. ("Cotiviti"). Moody's also assigned B3 ratings to the company's new first-lien senior secured credit facilities, including a $300 million revolver and $3,165 million term loan, and assigned Caa2 ratings to $1,150 million of new senior unsecured notes. Moody's treats the preferred securities as equity.) Upon close of the transaction, Moody's will withdraw the ratings for Cotiviti Corporation (Ba3 RUR downgrade).