Moody's assigns B2 to Cyanco loans

Moody's Investors Service said it assigned B2 ratings to Cyanco Intermediate 2 Corp.'s new $50 million senior secured first-lien revolving credit facility and the new $420 million senior secured first-lien term loan B due 2028.

All other ratings, including the B2 corporate family and term loan ratings remain unchanged, the agency said.

Term loan proceeds will be used to repay the term loan maturing in 2025 and for the related transaction fees and expenses.

“Moody's views the refinancing as effectively leverage neutral despite slightly higher gross debt on a pro forma basis,” the agency said in a press release.

The outlook is stable.

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