Moody's rates EnergySolutions loans Ba2, notes B3

Moody's Investors Service said it assigned Ba2 ratings to EnergySolutions, LLC's new $560 million term loan facility and its new $125 million revolving credit facility. The company's new $300 million senior unsecured notes were rated B3.

The agency said it downgraded the corporate family rating to B1 from Ba3 and affirmed the company's probability of default rating at B1 and speculative grade liquidity rating at SGL-2.

Moody's said it will withdraw the ratings for the company's existing bank credit facilities, which are being replaced via the refinancing.

The downgrades reflect the significant change in the company's capital structure including a considerable increase in funded debt and shift to a tiered capital structure that reflects a significant increase in subordinated liabilities, the agency said.

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