Moody's rates Syncreon B2, notes B3

Moody's Investors Service said it assigned ratings to Syncreon Holdings: corporate family and probability of default, each at B2.

Moody's said it also assigned a rating of B3 to the planned issuance of $300 million of senior notes due 2018.

The outlook is stable.

These are first-time ratings, the agency said, adding that proceeds from the new notes offering will be used to refinance the company's existing debt as well as to provide additional cash to the company for operating purposes.

The rating considers Syncreon's ability to achieve solid returns and operating margins that are superior to those typical of many of the company's competitors in the global supply chain logistics sector, the agency said.

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