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Moody's may downgrade Wyle
Moody's Investors Service said it placed Wyle Holdings, Inc.'s B2 corporate family and probability-of-default ratings and Wyle Laboratories, Inc.'s Ba3 (LGD3, 31%) $30 million first-lien revolver due 2013 and $200 million first-lien term loan due 2013 under review for possible downgrade.
The move follows the company's announcement that it agreed to be acquired by Court Square Capital Partners. The company has stated that the transaction is subject to obtaining the consent of first-lien lenders and some regulatory approvals.
Moody's said its review will assess capital structure, borrowing terms and liquidity profile.
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