Moody's: Dresser-Rand notes B1

Moody's Investors Service said it assigned a B1 rating to Dresser-Rand Group, Inc.'s proposed $375 million of subordinated notes and affirmed the Ba3 corporate family rating and SGL-2 speculative-grade liquidity rating.

The outlook is positive.

Dresser-Rand's proposed acquisition of Grupo Guascor SL helps to strengthen an already strong business profile, the agency said.

The ratings on Dresser-Rand, including the Ba3 corporate family rating, reflect the company's strong market share and technological expertise, dependable aftermarket business and a relatively strong financial profile, Moody's said.

The positive outlook reflects strong liquidity and cash generating ability, continued ability to generate a relatively strong base of earnings during the downcycle and strong market demand for the company's products and services, the agency said.

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