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Moody's rates Dispensing Dynamics notes B3
Moody's Investors Service said it assigned a B3 corporate family rating to Dispensing Dynamics International.
Concurrently, Moody's assigned a B3 rating to the company's proposed $125 million five-year senior secured notes offering.
Proceeds from the offering are expected to be used to refinance existing debt, pay a dividend of approximately $45 million to shareholders and cover transaction related fees and expenses.
The outlook is stable.
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