Moody's: Candy Intermediate loan B2

Moody's Investors Service said it assigned a B1 corporate family rating and probability of default rating to Candy Intermediate Holdings, Inc., a wholly owned subsidiary of Ferrara Candy Co.

Concurrently, Moody's assigned a B2 rating to the proposed $425 million senior secured term loan B due 2019.

The outlook is stable.

Proceeds from the proposed $425 million term loan B will be used to finance the merger of Farley's & Sathers Candy Co., Inc. and Ferrara Pan Candy Co., Inc., to repay existing debt and to pay related fees and expenses.

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