Moody’s Investors Service (“Moody’s”) affirmed KAR Auctions Services, Inc. (“KAR”) credit ratings, including the B1 Corporate Family Rating (“CFR”), B1-PD Probability of Default Rating and B3 senior unsecured rating. Moody’s assigned a Ba2 instrument rating to the new senior secured credit facilities, which include i) a $950 million senior secured term loan B maturing in 2026, and ii) a $325 million revolving credit facility maturing 2024.
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