Moody's assigns Ba3 to Koppers loan

Moody's Investors Service said it gave a Ba3 rating to Koppers Inc.'s $800 million senior secured revolving credit facility due 2027.

Moody's also affirmed Koppers Holdings Inc.'s (Koppers) Ba3 corporate family rating, Ba3-PD probability of default rating and B1 rating on the 6% senior unsecured notes due 2025 issued by Koppers Inc. The speculative grade liquidity rating remains unchanged at SGL-2.

"The refinancing of the revolver will allow Koppers to extend its maturity profile, improve liquidity and manage operations," said Domenick R. Fumai, a Moody's vice president and lead analyst for Koppers, in a press release.

The outlook is stable.

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