Moody's gives Nellson facility B2

Moody's Investors Service said it assigned a B2 rating to Nellson Nutraceutical, LLC's first-lien credit facility, which consists of a $65 million revolving credit facility and a $265 million term loan.

Nellson will use the proceeds to refinance its credit facilities. “Moody's views today's action as credit positive because the refinancing extends the maturities of Nellson's credit facilities by two years with only a slight increase in cash interest expense,” the agency said in a press release.

Moody's also assigned a B2 rating to Les Aliments Multibar Inc.'s $109 million first-lien term loan. Nellson's B3 corporate family rating and B3-PD probability of default rating remain unchanged. Moody's also withdrew the B2 ratings on the previous facilities that were due in 2021.

The outlook remains stable.

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