Moody's rates Maxim Crane notes Caa1

Moody's Investors Service said it assigned B3 corporate family and probability-of-default ratings to Maxim Crane Works, LP.

The agency assigned a Caa1 (LGD5, 77) to the company's new $250 million second-lien notes due 2015.

The outlook is stable.

Moody's said the ratings balance Maxim's well-established position as one of the largest crane rental companies in the United States against the still weak prospects for new non-residential construction spending that would drive new demand for crane rentals.

© 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.