Moody's: Evergreen Tank loan B3

Moody's Investors Service said it assigned a B3 rating to Evergreen Tank Solutions, Inc.'s proposed $165 million six-year senior secured term loan.

Concurrently, all existing ratings were affirmed, including the B2 corporate family rating.

The outlook is stable.

Proceeds from the issuance of the proposed $165 million senior secured term loan and drawings under the proposed amended and extended revolving credit facility are expected to be used to repay the company's existing secured term loan, 12% senior subordinated notes and current drawings under the existing ABL facility.

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