Moody's rates Artel loans B2

Moody's Investors Service said it assigned B3 corporate family and probability of default ratings to Artel LLC.

Concurrently, Moody's assigned a B2 rating to Artel's planned first-lien credit facility, the proceeds of which will repay existing debt and partially redeem preferred equity.

The outlook is stable.

Moody's said the bank loan facility rating of B2, one notch above the corporate family rating, reflects that a meaningful level of trade payables would exist in a stress scenario, helping senior secured recovery prospects.

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