Moody's: Verso Paper notes B1

Moody's Investors Service said it assigned a B1 rating to Verso Paper Holdings LLC's proposed 9¾% secured notes due 2019.

The notes are being offered in exchange for Verso's existing $180 million floating rate second-lien notes due 2014.

Moody's said the proposed debt exchange is leverage neutral, however the participation rate in the tender offer may impact the ratings and recovery of several of Verso's existing notes.

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