Moody’s rates MKS Instruments, loan Ba2

Moody's Investors Service said it assigned a Ba2 corporate family rating and Ba2-PD probability of default rating to MKS Instruments, Inc.

Concurrently, the agency assigned a Ba2 rating to the company's proposed $800 million secured term loan B and assigned a speculative grade liquidity rating of SGL-1.

The outlook is stable.

Proceeds from the new debt financing will be used principally to fund the pending acquisition of Newport Corp. for about $980 million (including fees). The ratings assume that the Newport acquisition will be completed in a timely manner.

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