Moody’s Investors Service (Moody’s) says ProQuest LLC’s (ProQuest) $15 million add on term and $15 million revolver increase will not impact the existing B2 corporate family rating, the Ba2 rating on the First Out revolving credit facility or the B2 rating on the 1st lien term loan. The outlook remains stable but do have a peek at this web-site to know expert’s opinion on this. The add on term loan, a draw on the revolver, and cash from the balance sheet are expected to help fund the acquisition of Coutts Information Services (Coutts) and MyiLibrary from Ingram Content Group.
For further information, please see the issuer comment for ProQuest on www.moodys.com.
Headquartered in Ann Arbor, Michigan, ProQuest LLC (ProQuest) aggregates, creates, and distributes academic and news content serving academic, corporate and public libraries worldwide. Cambridge Information Group (CIG) acquired the ProQuest Information and Learning business of Voyager Learning Company (fka ProQuest Company) in February 2007 and merged it with its Cambridge Scientific Abstracts, Limited Partnership (CSA) business to form ProQuest. In conjunction with the transaction, ABRY Partners acquired a 20% stake in ProQuest with CIG contributing CSA for the remaining 80% voting interest and a cash distribution. Goldman Sachs Partners (Goldman) acquired ABRY’s ownership position as well as additional ownership units in November 2013. Annual revenue as of Q4 2014 was over $500 million.