Moody’s rates Koppers loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to Koppers Inc.'s repriced $399 million backed senior secured term loan B due April 2030.

Koppers Holdings Inc.'s Ba3 corporate family rating and Ba3-PD probability of default rating and Ba3 rating on the backed senior secured first-lien revolving credit facility is unchanged.

The speculative grade liquidity rating of SGL-2 remains the same.

The outlook is stable.

“The term loan repricing will modestly reduce interest expense by approximately $2 million per year during a period where rates are expected to remain higher for a longer period,” Domenick R. Fumai, Moody's vice president and lead analyst for Koppers Holdings, said in a news release.

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