Moody’s gives B2 to Morgan Auto notes

Moody's Investors Service said it assigned a B2 rating to LCM Investments Holdings II, LLC's (Morgan Automotive Group) planned $500 million of senior unsecured notes offering due 2031.

All other ratings remain unchanged including the company's Ba3 corporate family rating and B2 senior unsecured rating.

Morgan will use the proceeds to repay borrowings under the company's unrated revolving credit facilities as well for general corporate purposes.

The stable outlook remains unchanged.

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