Moody's rates SG Resources loan B1

Moody's Investors Service said it assigned a B1 rating to SG Resources Mississippi, LLC's proposed $100 million senior secured revolving credit facility.

At the same time, Moody's said it affirmed SG's B1 corporate family rating and its B1 rated senior secured $135 million term loan and $101.2 million senior secured revolving credit facility.

The proposed revolver, which is being structured as an additional tranche to SG's exiting senior secured credit facilities, will rank pari passu with the existing facilities, the agency noted.

The outlook is stable.

According to Moody's, the B1 rating reflects management's successful execution thus far on phases I and II of the project, tempered by the low level of equity funding relative to similarly rated salt dome facilities, with phase 3 being primarily debt financed.

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