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Moody's acts on KIRS Group units

Moody's on May 26 assigned KIRS Midco 3 plc a corporate family rating of (P)B3.

The outlook on the firm is positive.

At the same time, the agency affirmed KIRS Finco Plc's corporate family rating at B3 and revised the outlook to positive from negative.

KIRS Midco 3 plc and KIRS Finco Plc are part of KIRS Group, the new umbrella firm created from the merger of Towergate with four other U.K.-based insurance businesses. Towergate is owned by HPS Investment Partners LLC and Madison Dearborn Partners LLC.