Moody’s rates Hayward loan B3

Moody’s Investors Service said it assigned a B3 rating to Hayward Industries, Inc.’s proposed $150 million incremental first-lien term loan due 2026.

Loan proceeds and cash on hand will be used to fund a $275 million dividend distribution to shareholders.

Concurrently, Moody’s affirmed Hayward’s ratings, including its corporate family rating at B3, its probability of default rating at B3-PD, the rating on its senior secured first-lien term loan due 2024 at B3 and its senior secured second-lien term loan due 2025 at Caa2.

The outlook remains stable.

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