DBRS gives IRG Industrial notes BBB(low)

DBRS said it gave BBB(low) ratings to IRG Industrial LLC’s $15 million of 7.75% senior notes, series G due March 3, 2027, $66,5 million of 7.89% senior notes, series H due March 3, 2029, and $78,5 million of 8.05% senior notes, series I due March 3, 2031.

The notes are guaranteed by American Development Center, LLC and IRG Realty Advisors, LLC.

The ratings are based on those of already outstanding senior notes, the agency said.

The proceeds will be used to refinance unsecured revolver debt.

The trend 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.