Moody’s rates Aggreko loan B1

Moody’s Investors Service said it assigned a B1 rating to the planned €300 million add-on to the senior secured term loan due August 2026, issued by Albion Financing 3 Sarl, a subsidiary of Albion HoldCo Ltd. (Aggreko).

Aggreko’s other ratings, including the B1 ratings of backed senior secured notes issued by Albion Financing 1 Sarl due October 2026 and senior secured term loan B issued by Albion Financing 3 due August 2026, and B3 rating of backed senior unsecured notes issued by Albion Financing 2 Sarl due April 2027, are unchanged.

The proceeds will be used in the first instance to reduce current drawings under Aggreko's revolver; longer term, these funds are slated to finance growth opportunities identified by Aggreko's management team, including a pipeline of acquisitions.

The outlook is stable.

© 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.