Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Boise Cascade Co. > News item |
Moody’s rates Boise Cascade notes Ba2
Moody’s Investors Service said it assigned a Ba2 rating to Boise Cascade Co.’s proposed $400 million of senior unsecured notes due 2030.
“The refinancing is leverage neutral and Boise Cascade’s existing ratings remain unchanged, reflecting our expectations that the company’s leverage (adjusted debt to EBITDA) will be around 2.5x in 2020,” said Ed Sustar, senior vice president with Moody’s, in a press release.
Boise Cascade intends to use the proceeds to refinance the company’s $350 million of 5 5/8% senior unsecured notes due 2024 and $45 million term loan due 2026.
The company’s Ba1 corporate family rating, Ba1-PD probability of default rating, Ba2 senior unsecured debt rating and SGL-1 speculative grade liquidity rating remain unchanged.
The outlook remains 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.