Moody’s rates OEConnection loans B2, Caa2

Moody’s Investors Service said it assigned these ratings to OEConnection LLC (New): B3 corporate family rating, B3-PD probability of default, B2 rating to the new first-lien credit facilities and Caa2 rating to the new second-lien term loan.

The company plans to obtain a $422 million first-lien senior secured term loan and a $185 million second-lien senior secured term loan.

Proceeds will be used to fund the acquisition of OEC by Genstar Capital and refinance the existing $398 million of first- and second-lien term loan debt.

The outlook is stable.

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