Moody's rates Global AT&T Electronics notes B2

Moody's Investors Service said it assigned a provisional B2 rating to the proposed $475 million second-lien notes due 2015 from Global A&T Electronics Ltd.

The outlook is stable.

Global A&T Electronics is the new parent of United Test and Assembly Center, which will guarantee the notes after the whitewash procedure is completed.

Moody's said it expects to affirm the rating and remove it from its provisional status upon completion of the notes issuance.

The rating reflects subordination risk against the senior secured term loan facility and senior secured revolving facility, which have first-lien on all of the assets of the group, the agency said.

© 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.