Moody's rates Milk loan B2

Moody's Investors Service said it upgraded Milk Specialties Co.'s corporate family rating to B2 from B3 to reflect the company's ongoing earnings growth, margin expansion and an expected improvement in its liquidity profile following the recently proposed refinancing.

Concurrently, Moody's assigned a B2 rating to the company's proposed $315 million first-lien credit facility.

Proceeds from this refinancing are expected to repay existing indebtedness and pre-fund capital expansion plans.

The outlook is stable.

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