Moody’s: Add-on has no impact on Albaugh

Moody's Investors Service said Albaugh, LLC's proposed $75 million incremental first-lien term loan will have no impact on the company’s B1 corporate family rating, B1 term loan rating and B1 revolver rating.

The company is expected to be used for general corporate purposes, including capital expenditures and working capital, the agency said.

The proposed term loan, which is due May 2021, will be incorporated into the existing $300 million senior secured term loan B, which has a B1 (LGD3) rating, Moody’s said.

Albaugh also has a $100 million senior secured revolving credit facility due May 2019, the agency added.

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