Moody's rates Aircast second-lien loan B3

Moody's Investors Service said it assigned a new rating of B3 to the second-lien term loan of Aircast International Asset Acquisition Corp. All other ratings remain unchanged. The outlook remains stable.

Moody's has assigned a B1 rating to the $5 million first-lien revolving credit of Aircast, a B1 rating to the $55 million first-lien term loan, a B3 rating to the $40 million second-lien term loan, a B2 senior implied for Aircast, and a B3 issuer rating.

Moody's previously had assigned a B2 rating to the second-lien term loan to be put in place by Aircast as part of the financing of its acquisition by Tailwind Capital Partners. The company has since changed the financing structure of its acquisition.

The new structure includes a $5 million first-lien revolver (unchanged from the original structure), a $55 million first-lien term loan (increased from $50 million) and a $40 million second-lien term loan (increased from $30 million).

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