Moody’s gives B1 to Wesco notes

Moody's Investors Service said it affirmed Wesco International, Inc.'s Ba3 corporate family rating and stable outlook and assigned a B1 (LGD5) rating to its proposed $350 million senior unsecured notes due 2024.

The outlook remains stable.

Proceeds from the senior unsecured notes will be used to repay existing short term debt and ultimately repay the company's existing 6% convertible bonds senior secured notes due 2029 (not rated) as well as for fees and related transaction expenses.

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