Moody's rates Allison loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to Allison Transmission, Inc.'s new $500 million senior secured term loan B-3 facility.

In a related action Moody's affirmed Allison's corporate family and probability of default ratings at B1,and affirmed the ratings of the company's existing senior secured bank debt and senior unsecured notes at Ba3 and B3, respectively.

The speculative grade liquidity rating also was affirmed at SGL-2 and the outlook is stable.

The proceeds from the new term loan B-3 facility will be used to refinance a portion of the company existing senior secured term loan B-1 facility due 2014 and thereby extend the maturity of this refinanced portion to 2019.

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