Moody’s assigns a Baa3 rating to Dell’s proposed secured notes

Moody’s assigned a provisional rating of Baa3 to Dell Inc.’s proposed senior secured notes.

The debt is being issued by Diamond 1 Finance Corporation (“Finco 1”) and co-issuer Diamond 2 Finance Corporation (“Finco 2”), which are entities that will merge into Dell International LLC (a debt issuing subsidiary of Dell Inc.) and EMC Corporation (“EMC”), respectively, upon closing of the Dell EMC merger.

Post closing of the transaction, Dell International and EMC will assume all of Finco 1’s and Finco 2’s obligations under these notes.

The Dell – EMC merger is expected to close by the end of October 2016.

Source: Moody’s

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