Moody's rates GenCorp notes Ba3

Moody's Investors Service said it confirmed the B1 corporate family rating of GenCorp Inc. and lowered the speculative grade liquidity rating to SGL-3 from SGL-2.

Concurrently, Moody's assigned a Ba3 rating to the planned $460 million of second-lien notes due 2021, the proceeds of which will help fund the pending acquisition of Pratt & Whitney Rocketdyne, Inc.

The outlook is stable.

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