Moody's rates Sidera loans B2

Moody's Investors Service said it assigned B2 ratings to Sidera Networks Inc. proposed $325 million term loan B and $50 million revolving credit facility.

The new $50 million revolver is due December 2017 and the term loan is due December 2018.

Both the term loan and revolver are rated B2, in line with the company's corporate family rating, which is unchanged.

The outlook remains stable.

Net proceeds from the new term loan and revolver will be used to refinance Sidera's existing credit facilities and to provide for ongoing working capital and general corporate purposes.

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