Moody's gives Caritor, loan B1

Moody's Investors Service said it assigned Caritor Inc. a first-time B1 corporate family rating and a stable outlook.

Moody's said it also assigned a first time B1 rating to the company's first-lien credit facilities, consisting of a $600 million term loan, $50 million revolving credit facility and $40 million synthetic letter of credit facility.

The agency added that all three facilities expire in 2013.

Pro forma for the acquisition, Moody's said that Caritor's B1 corporate family rating reflects its size and profitability, as measured by its pretax income and asset returns, its financial strength, as measured by its financial leverage and interest coverage and its business profile, as measured by its client concentration.

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