Moody's rates Kenan facility Ba3

Moody's Investors Service said it affirmed the B1 corporate family rating for Kenan Advantage Group, Inc. and maintained its negative outlook, following certain modifications to Kenan's senior secured credit facility.

At the same time, the agency assigned a Ba3 rating to a new dollar-denominated tranche D term loan that is part of Kenan's modified senior secured credit facility.

Moody's also affirmed the Ba3 rating for the senior secured credit facility and the B3 rating for Kenan's senior unsecured notes due 2018.

The rating action takes into account that the modifications do not materially alter the total amount of debt, or the relative amounts of senior secured and senior unsecured debt in Kenan's capital structure.

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