Moody’s assigns Meritor notes B1

Moody’s Investors Service said it assigned a B1 rating to Meritor Inc.’s new $300 million of senior unsecured notes.

Proceeds will be used for general corporate purposes, including paying down revolver borrowings.

Moody’s also confirmed the company at Ba3, Ba3-PD probability of default and the B1 rating on Meritor’s outstanding notes.

© 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.