Moody's assigns B3 to SI loan

Moody's Investors Service said it assigned a B3 rating to Polar US Borrower, LLC's (SI Group) $272.5 million senior secured first-lien revolving credit facility. Polar US Borrower upsized the revolver from $250 million and extended the maturity to 2027 from 2023.

The B3 corporate family rating, B3-PD probability of default rating, the B3 rating on the first-lien senior secured term loan and Caa2 rating on the senior unsecured notes remain unchanged, the agency said.

"The extension of the maturity profile removes near-term refinancing risk as the revolving credit facility was set to become current in a few months," said Domenick R. Fumai, a Moody's vice president and lead analyst for Polar US Borrower, in a press release.

The outlook is stable.

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