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Parker Private Merger Sub, Inc. -- Moody's assigns B3 CFR to acquirer of Web.com; outlook stable

Moody's Investors Service ("Moody's") assigned a B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating (PDR) to Parker Private Merger Sub, Inc. (dba "Web.com") in connection with private equity firm Siris Capital's ("Siris") proposed acquisition of Web.com. Parker Private Merger Sub, Inc. is an acquisition vehicle that will be merged with and into the company, with Web.com Group, Inc. surviving the merger as a wholly owned subsidiary of Parker Private Holdings II, LLC. At the same time, Moody's assigned B2 ratings to the company's proposed $1.18 billion first lien senior secured credit facility, including $100 million revolving credit facility and $1.08 billion term loan, and a Caa2 rating to the proposed $420 million second lien senior secured term loan.