Moody’s adds LD to TriMark rating

Moody's Investors Service said it appended a limited default (/LD) designation to TMK Hawk Parent, Corp.'s (TriMark) probability of default rating, changing it to Ca-PD/LD from Ca-PD, following the completion of the transactions announced on Dec. 19. The agency will remove the /LD designation in about three business days.

Moody's will withdraw the instrument ratings since all the outstanding rated debt instruments have been fully repaid or exchanged.

TriMark inked a pact with a group of its lenders, led by Ares Management, LP, Oaktree Capital Management, LP and Bayside Capital, to invest a $350 million cash equity in the company and to significantly deleverage the company’s balance sheet.

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