Moody's assigns Crown, loan B1

Moody's Investors Service said it assigned a B1 first-time rating to Crown Acquisition Corp.'s and CPM Acquisition Corp.'s $235 million senior secured credit facility, consisting of a $25 million revolver and $210 million term loan, and a B1 corporate family rating.

The outlook is stable.

According to Moody's, the co-borrowers' B1 corporate family rating reflects the pending acquisition and the favorable characteristics of the combined entities.

The combined entity will have a strong competitive position, solid EBITDA margins, conservative capital structure and robust free cash flow, the agency said.

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