Moody's: OEP Pearl, loans B1

Moody's Investors Service said it assigned a corporate family rating of B1 to OEP Pearl Holdings LP, the parent of Sonneborn, Inc.

Moody's said it also rated the company's new $240 million senior secured term loan and $30 million senior secured revolver at B1.

The outlook is stable.

The agency said the B1 corporate family rating is supported by the company's leading market positions in highly refined hydrocarbon markets, strong customer relationships that average roughly 50 years, limited customer concentration, exposure to recession-resistant consumer product end-markets, demonstrated ability to pass through increases in raw material prices to its customers in the form of price increases, and enhanced profitability resulting from cost-saving initiatives.

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