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Moody's may cut Wyle Services
Moody's Investors Service said it placed on review for possible downgrade Wyle Services Corp.'s B2 corporate family and probability of default rating, the Ba2 (LGD 2, 19%) ratings on its $25 million first-lien revolver due 2015 and $95 million first-lien term loan due 2016 and the B3 (LGD 5, 77%) rating on its $175 million 10½% subordinated notes due 2018.
The company plans to fund the transaction with $200 million of incremental debt, which may require a credit facility amendment or refinancing, the agency said.
The review will consider the transaction's impact on the company's credit metrics, capital structure, financial flexibility and business profile, Moody's said.
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