Moody's rates Hillman notes B3

Moody's Investors Service said it assigned a B3 rating to the Hillman Group, Inc.'s incremental $65 million 10 7/8% senior unsecured notes.

Concurrently, the agency said it affirmed Hillman's B2 corporate family and probability of default ratings, its Ba3 senior secured credit facility rating and the B3 rating on its $200 million 10 7/8% senior unsecured notes.

The outlook remains stable.

While the transaction is credit negative, as it will significantly increase Hillman's leverage, Moody's said it would not impact the ratings or the outlook as the agency expects the company to deleverage relatively quickly with EBITDA generated by Paulin.

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