Moody's: ASP HHI loans B2

Moody's Investors Service said it assigned ASP HHI Acquisition Co., Inc. a B2 corporate family rating, B3 probability of default rating and a B2 rating to the new $580 million of senior secured bank credit facilities.

The outlook is stable.

Proceeds from the $505 million senior secured term loan, along with an additional equity investment of $272 million from affiliates of American Securities and management, will be used to fund the acquisition of HHI Holdings, LLC, pay related fees and expenses and fund general corporate purposes.

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