Moody's assigns McDermott DIP B1

Moody's Investors Service said it assigned a B1 rating to McDermott Technology, BV'sdebtor-in-possession financing facilities including a $1.2 billion term loan and a $543 million letters of credit facility.

The rating primarily reflects the collateral coverage available to lenders and the structural features of the financing facilities. The DIP financing facilities rating is being assigned on a “point-in-time” basis and will not be monitored going forward and, therefore, no outlook is assigned to the rating, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.