Moody's: Arctic Glacier unaffected

Moody's Investors Service said the announcement by Arctic Glacier USA, Inc. that it plans to exercise the $20 million accordion feature under its existing $260 million first-lien term loan facility is a credit negative, but does not immediately impact the company's B3 corporate family rating or stable outlook.

Proceeds will be used to repay $14 million of existing revolver borrowings and to provide approximately $6 million of balance sheet cash for acquisitions, general corporate purposes and transaction related fees and expenses.

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