Moody's gives B1 to Dealer Tire loan

Moody's Investors Service said it gave a B1 rating to Dealer Tire Financial, LLC's new senior secured first-lien term loan.

The company's other ratings, including the B1senior unsecured and Caa1 unsecured ratings, remain unchanged, the agency said.

Dealer Tire wants to amend and extend the maturity of its first-lien term loan by two years to December 2027. Earlier in 2022, Dealer Tire upsized its first-lien revolving credit facility to $250 million and extended it through June 2027. The rating on the current term loan due December 2025 will be withdrawn once the amendment is completed, Moody’s said.

The outlook is stable.

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