Moody’s rates EnerSys notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to EnerSys’ planned $300 million of eight-year senior unsecured notes.

All other ratings are unchanged, including the Ba2 corporate family rating, the Ba2-PD probability of default rating and the Ba3 rating on the company's 4 3/8% senior unsecured notes due 2027. The SGL-1 speculative grade liquidity rating also remains unchanged, Moody’s said.

The proceeds are expected to be used to pay down the company's unrated term loans and unrated revolving credit facility due September 2026, as well as pay fees and expenses.

The outlook remains stable.

© 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.