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Moody's: Milk Specialties B3, loan B2
Moody's Investors Service said it assigned a B3 corporate family rating to Milk Specialties Co. and assigned a B2 rating to the company's proposed $180 million first-lien credit facility.
The outlook is stable.
Moody's said that the B3 corporate family rating reflects Milk Specialties' high leverage, adequate liquidity, small scale, limited product and geographic diversification, and competition from other, in some cases larger, whey protein manufacturers.
The rating benefits from strong anticipated end product demand growth in the sports and wellness nutrition segments and steady growth in animal nutrition and packaged foods, according to the agency.
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