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Moody's: HD Supply notes B2
Moody's Investors Service said it assigned a B2 to HD Supply, Inc.'s proposed add-on first-lien senior secured notes due 2015, increasing the amount of the issuance to at least $1.15 billion from $950 million.
Moody's also affirmed the corporate family rating and probability of default rating at Caa1.
The company's speculative grade liquidity rating was affirmed at SGL-3.
The outlook is stable.
Proceeds from the issuance will be used pay down the company's asset-based revolving credit facility by a minimum of $200 million, enhancing the company's liquidity by increasing revolver availability and remaining leverage neutral.
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