Moody's assigns Olympus Water notes B2

Moody's Investors Service said it assigned a B2 rating to Olympus Water US Holding Corp.'s planned $325 million of senior secured notes.

The company's B3 corporate family rating, B3-PD probability of default rating, B2 ratings on the existing senior secured notes and the first-lien term loans, as well as the Caa2 rating on the senior unsecured notes, remain unchanged, Moody’s said.

The proceeds will be used to fund the acquisition of Clearon Corp. and the related fees and expenses.

The outlook is stable.

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