Moody’s gives LABL notes B2

Moody’s Investors Service said it gave a B2 rating to LABL Inc.’s planned $300 million of senior secured notes.

The company entered a letter of intent for an acquisition. Concurrently, the agency affirmed LABL’s ratings, including its B3 corporate family rating, its B3-PD probability of default rating, B2 senior secured rating and Caa2 senior unsecured rating.

The company plans to use the proceeds to finance the acquisition and repay borrowings under the asset-based revolver.

The outlook remains negative.

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