Moody's plans to pay down term loan facility using notes proceeds

By Ashley Montgomery

Kansas City, Kan., Aug. 15 - Moody's Corp. will likely use the proceeds form its senior notes offering to repay borrowings under its five-year senior unsecured term loan facility, according to a filing with the Securities and Exchange Commission.

The company owes $127.5 million under the facility, which matures on May 7, 2013.

Proceeds may also be used for general corporate purposes, including working capital, capital expenditures, acquisitions of or investments in businesses or assets and purchase of common stock under the company's authorized stock repurchase program.

The credit ratings agencies has offices in New York and worldwide.

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