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Moody’s assigns Graham loan B1
Moody’s Investors Service said it assigned a B1 rating to Graham Packaging Co., Inc.’s new senior secured first-lien term loan due 2027. The B2 corporate family rating and B2-PD probability of default rating are unchanged.
The B1 rating is the same as that on Graham’s outstanding term loan.
The proceeds will be used to repay the outstanding senior secured first-lien term loan due 2027 pay fees and expenses. The rating on the existing first-lien term loan due 2027 will be withdrawn at the transaction’s close. “Moody’s considers the transaction credit neutral,” the agency said in a press release.
The outlook remains stable.
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