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Moody's rates Consolidated loan B1, notes Caa1
Moody's Investors Service said it confirmed the B2 corporate family rating, other instrument ratings and stable outlook of Consolidated Container Co. LLC
Moody's said the review was triggered by Consolidated's announcement that it will be acquired by affiliates of Bain Capital Partners LLC.
Moody's also assigned ratings to the acquisition financing, which includes a $370 million term loan rated B1 and $250 million of senior unsecured notes rated Caa1.
Bain is expected to make a $180 million common equity contribution, which will not have a liquidation preference, dividend or accretion, the agency said.
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