Moody’s gives Ba3 to Kraton loans

Moody's Investors Service said it assigned Ba3 rating to the proposed euro-denominated first-lien term loan and Ba3 rating to the re-priced dollar-denominated first-lien term loan issued by Kraton Polymers LLC and Kraton Polymers Holding BV.

At the same time, the agency affirmed Kraton Corp.’s B1 corporate family rating and the B3 ratings on its $440 million senior unsecured notes due 2023 and $400 million senior unsecured notes due 2025.

Proceeds from the new euro term loan will be used to refinance its existing dollar term loan, and for fees and expenses.

The outlook is stable.

Moody’s said Kraton's ratings are supported by the fundamentally larger and more diversified company and roughly twice the operating footprint globally following the Arizona Chemical Holdings Corp. acquisition in 2016.

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