Moody's rates Denny's loan B1

Moody's Investors Service said it assigned a B1 rating to Denny's Inc.'s proposed $50 million senior secured revolving credit facility and $250 million senior secured term loan.

In addition, Moody's said it affirmed Denny's Holdings, Inc.'s B2 corporate family rating and probability of default rating.

The outlook is stable.

Proceeds from the bank credit facility will be used to re-finance Denny's existing senior secured first-lien bank credit facility and the $175 million senior unsecured notes at Denny's Holdings, the agency added.

© 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.