Moody’s rates Capstone loan B3

Moody’s Investors Service said it assigned a B3 rating to Capstone Logistics Acquisition, Inc.’s proposed senior secured first-lien credit facilities, including a $395 million term loan and a $75 million revolving credit facility.

Proceeds from the first-lien term loan together with an unrated privately placed $105 million second-lien term loan will be used to refinance the company’s first and second lien credit facilities, of which the ratings will be withdrawn upon the close of the transaction. The outlook is stable.

Moody’s also affirmed the company’s B3 corporate family rating and B3-PD probability of default rating.

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