Moody's rates Safway loan B2

Moody's Investors Service said it assigned B2 corporate family and probability of default ratings to Safway Group Holding LLC.

In a related action, Moody's assigned a B2 rating to the company's proposed senior secured term loan.

The outlook is stable.

Proceeds from the loan will be used to refinance Safway's existing senior secured term loan due 2017, pay down borrowings under its existing revolving credit facility and improve its cash position.

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