Moody's assigns Williams Scotsman notes B3

Moody's Investors Service said it assigned a B3 rating to the planned issuance of $500 million in new Williams Scotsman International Inc. senior secured notes with an eight-year tenor.

“The B3 rating assigned to the planned senior secured notes reflects the company's b1 stand-alone assessment and the senior secured notes' second lien priority in right of payment to the company's revolving credit facility due in 2025, and equal with William Scotsman's existing 6 1/8% senior notes due in 2025,” Moody’s said in a press release.

Proceeds will be used to redeem its 6 7/8% senior secured notes due 2023 and for general purposes.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.