Moody’s rates Iridium loans Ba3

Moody's Investors Service said it assigned Ba3 ratings to Iridium Satellite LLC's new $1.5 billion senior secured first-lien term loan and new $100 million senior secured first-lien revolving credit facility.

The company's Ba3 corporate family rating, Ba3-PD probability of default rating, SGL-1 speculative grade liquidity rating and stable outlook remain unchanged.

Term loan proceeds will be used to refinance Iridium’s term loan B. Moody's said it will withdraw the Ba3 ratings on the company's outstanding term loan B and revolver when the transaction closes.

© 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.