Moody's rates GEO loans B2, notes B3

Moody's Investors Service said it rated GEO Group, Inc.'s new senior secured exchange bank facilities and B3 ratings to its new second-lien secured notes. The agency also boosted GEO’s corporate family rating to B3 from Caa2, its senior secured bank facilities to B3 from Caa1 and its senior unsecured debt to Caa1 from Caa2. The speculative grade liquidity rating remains unchanged at SGL-3.

“The rating actions reflect the issuer's completion of a distressed debt restructuring transaction with its credit facility lenders and bondholders,” the agency said in a press release.

The company's outlook remains 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.