Moody's rates Mauser loan B2, notes B2, Caa2

Moody's Investors Service said it rated Mauser Packaging Solutions Holding Co.’s planned $2.75 billion of new secured notes and $750 million term loan B2 and its proposed $1.35 billion of second-lien senior secured notes Caa2.

The ratings are consistent with Moody’s ratings for Mauser’s outstanding notes and loans. Moody’s also affirmed Mauser’s B3 ratings.

Mauser will use the proceeds to refinance its term loans and senior secured notes due 2024 and to replace the $1.35 billion of senior unsecured notes due April 2025. To support about $400 million of proposed debt redemption, Mauser’s owner, Stone Canyon Holding Industries Holding, Inc., is also injecting $620 million of new money.

The outlook remains stable.

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