Moody's rates American Seafoods loan B1

Moody's Investors Service said it assigned B1 ratings to American Seafoods Group LLC's proposed $520 million in senior secured bank credit facilities and affirmed the Ba3 ratings on its existing senior secured bank credit facilities and the B3 rating on its $175 million of senior subordinated notes.

Moody's also affirmed the B1 corporate family rating at ASG Consolidated LLC as well as the Caa1 rating on ASG Consolidated's senior discount notes.

The outlook is stable.

More specifically, American Seafoods Group LLC's $75 million six-year senior secured revolving credit was assigned a B1 rating, its $125 million six-year senior secured term loan A received a B1 rating and its $320 million seven-year term loan B was assigned a B1 rating.

Moody's said the rating to the prospective American Seafoods LLC senior secured credit facilities reflects their position in the overall capital structure, as well as the planned refinancing of more junior debt with senior secured debt by April 2006.

© 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.