Moody’s assigns Ba2 to EnerSys notes

Moody's Investors Service said it assigned a Ba2 rating to EnerSys' proposed $300 million senior unsecured notes issuance and affirmed the corporate family rating at Ba1, probability of default at Ba1-PD, senior secured bank credit facility at Baa3 and speculative grade liquidity at SGL-1.

The outlook is stable.

Proceeds will go toward calling EnerSys’ senior unsecured $172 million 3.375% convertible notes due 2038 and will therefore increase the company's leverage. The rating on these notes will be withdrawn upon completion of the transaction.

© 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.