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Moody’s rates Oxbow facilities B1
Moody's Investors Service said it assigned B1 ratings to Oxbow Carbon LLC's new $325 million revolver due 2024, $175 million term loan A due 2024 and $400 million term loan B due 2025.
Simultaneously, Moody's affirmed Oxbow's B2 corporate family rating and B2-PD probability of default rating. The ratings of the existing revolver, TLA and TLB will be withdrawn upon repayment.
“The B1 ratings, one notch above B2 CFR, reflect their first-lien priority position in the capital structure concerning claims on collateral, which is substantially all assets of the company and the stock of subsidiaries, Moody’s said.
The outlook is stable.
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