Moody's rates Grede loan B2

Moody's Investors Service said it assigned B2 corporate family and probability of default ratings to Grede Holdings, LLC.

Moody's also assigned a B2 rating to the new $250 million senior secured term loan.

The outlook is stable.

Proceeds will be used to partially repay existing debt, fund a distribution to the shareholders and pay fees and expenses related to the transaction.

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