Moody's rates GIP III Stetson loan B2

Moody's Investors Service said it assigned a B2 rating to a planned $700 million senior secured term loan with borrowers GIP III Stetson I LP and GIP III Stetson II, LP.

GIP III Stetson I's other ratings and stable outlook remain unchanged, including its B2 corporate family rating.

“The proposed term loan issuance is opportunistically refinancing the existing term loan while improving financial flexibility,” commented Amol Joshi, a Moody's vice president and senior credit officer, in a press release.

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