Moody's assigns Gates loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to Gates Global LLC's new $575 million senior secured term loan.

Gates’ B1 corporate family rating and B1-PD probability of default rating are unchanged. In addition, the Ba3 senior secured term loan facilities ratings and B3 senior unsecured notes rating are unchanged, Moody’s said.

The proceeds will be used to refinance the company's $552.4 million euro term loan facility.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.