Moody’s drops Dynacast view to negative

Moody's Investors Service said it affirmed all of Dynacast International LLC's debt ratings, including its corporate family rating at B2 and probability of default rating at B2-PD.

Concurrently, Dynacast's first-lien senior secured revolver and term loan were affirmed at B1 and second-lien senior secured term loan at Caa1.

The outlook was changed to negative.

These actions follow the company's plan to acquire Signicast LLC in a largely debt-funded transaction for $375 million, anticipated to close in the first quarter of 2017.

Moody’s said the negative outlook incorporates the higher debt levels being incurred to fund the Signicast acquisition and the relatively short time since adding incremental debt to finance recent bolt-on acquisitions.

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