LOCK - LifeLock, Inc.

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At close: 6:07PM EDT
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  • Moody's

    NortonLifeLock Inc. -- Moody's rates NortonLifeLock's secured debt Baa3

    Moody's Investors Service ("Moody's") assigned a Baa3 rating to NortonLifeLock Inc.'s senior secured debt facility. Moody's also affirmed the company's Ba2 Corporate Family Rating (CFR) and its Ba3 senior unsecured debt rating. The senior secured credit facility is comprised of a $500 million term loan, a $750 million delayed draw term loan and a $1 billion revolving credit facility.

  • Moody's

    Symantec Corporation -- Moody's downgrades Symantec's unsecured rating to Ba3; assigns Ba2 CFR, stable outlook

    Moody's Investors Service ("Moody's") downgraded the senior unsecured rating of Symantec Corporation (Symantec or NotonLifeLock Inc.) to Ba3 from Baa3. Moody's also assigned a Ba2 Corporate Family Rating (CFR) and Ba2-PD Probability of Default Rating (PDR). The downgrade of the unsecured debt rating is driven by the increase in leverage following the sale of its Enterprise business, shift to a more shareholder friendly financial policy and introduction of secured debt into the capital structure.