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Moody's: DJO Finance notes Caa1
Moody's Investors Service said it rated DJO Finance LLC's proposed offering of $440 million of senior unsecured notes at Caa1.
Moody's also affirmed the corporate family and probability of default ratings at B3. At the same time,
Moody's affirmed all existing instrument ratings, including the company's 8¾% second priority senior secured notes due 2018 at B3, which are being upsized by $100 million.
The speculative grade liquidity rating was affirmed at SGL-3.
The outlook is stable.
The proceeds will be used to refinance the company's existing 10 7/8% senior unsecured notes due in November 2014, repay outstanding revolver borrowings and pay transaction fees and expenses.
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