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Moody’s gives B1 to Hawaiian Telcom loan
Moody's Investors Service said it assigned a B1 rating to Hawaiian Telcom Communications, Inc.'s proposed new $320 first-lien term loan.
Proceeds will be used to refinance and extend the maturity of the existing $295 million term loan that matures in June 2019, to pre-fund near-term capital expenditures and to pay fees, commissions and expenses in connection with the transaction.
At the closing of the transaction, Moody's will withdraw the rating on the existing term loan.
The company is also raising a $30 million super-priority revolving credit facility (unrated) to replace its existing $30 million super-priority revolver (unrated).
The outlook remains stable.
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