Moody's rates Hunter Fan loans B2

Moody's Investors Service said it assigned a B2 rating to Hunter Fan Co.'s corporate family rating and a B2-PD probability of default rating.

At the same time, Moody's assigned a B2 rating to the company’s proposed senior secured first-lien credit facilities consisting of a proposed $33 million first-lien revolver due 2026 and a $425 million first-lien term loan due 2028.

The proceeds from the proposed term loan, after paying fees and expenses, are expected to be used to refinance $327 million of existing debt and to pay an $85 million dividend distribution to shareholders.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.