Moody's rates Alliance Laundry loan B1

Moody's Investors Service said it assigned a B1 rating to the proposed new $350 million senior secured bank credit facility of Alliance Laundry Systems LLC.

The proceeds will be used to refinance the company's existing bank credit facility and provide a $47 million return of capital to shareholders, Moody's said.

The agency also said it affirmed the company's B2 corporate family and B3 probability of default ratings.

Moody's also raised the outlook to positive from stable.

The outlook revision reflects an expectation that the company will continue outperforming its rating category in a number of key credit metrics, as it has already demonstrated during a difficult time for the economy and the industry, Moody's said.

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