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Moody’s rates High Liner Foods loan B3
Moody's Investors Service said it assigned a B3 rating to High Liner Foods Inc.’s proposed $300 million senior secured first-lien term loan B facility.
Proceeds along with cash will be used to repay a $324 million term loan.
High Liner also plans to cut the size of its ABL revolver in size to $150 million from $180 million and extend the maturity to April 2023.
Moody’s also affirmed the company’s rating of B2 and B2-PD probability of default rating.
The outlook is stable.
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