Moody’s assigns GPD notes B3

Moody’s Investors Service said it assigned a B3 rating to the new $75 million senior secured add-on notes to be issued by GPD Cos, Inc., formerly known as Nexeo Plastics Holdings, Inc.

Proceeds and balance sheet cash, inclusive of $49 million in net proceeds from recent asset sales and sale-leaseback transactions, are expected to be used to purchase Distrupol Ltd., from Univar Solutions Inc.

The outlook is stable.

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