Moody's rates World Kitchen loans B1

Moody's Investors Service said it assigned B2 corporate family and probability of default ratings to WKI Holding Company Inc.

Moody's also assigned B1 (LGD 3, 41%) ratings to the company's new $200 million senior secured first-lien term loan due 2018 and to the new $90 million senior secured revolving credit facility expiring in 2017 issued at the company's U.S. operating subsidiary, World Kitchen, LLC.

Proceeds from the term loan are expected to refinance existing debt.

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.