Moody's ups reorganized Dana loans to Ba2

Moody's Investors Service said it affirmed the reorganized Dana Holding Corp.'s corporate family and probability-of-default ratings at B1.

The agency affirmed the Ba3 (LGD3, 35%) rating for the $1.430 billion senior secured term loan and raised the $650 million senior secured asset-based revolving credit facility to Ba2 (LGD2, 29%) from Ba3 (LGD3, 35%).

The outlook is stable.

The financing for the company's emergence from Chapter 11 bankruptcy protection has been funded in line with the structure originally rated on Jan. 7, according to Moody's.

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