Moody's rates Firth Rixson loans Ba3

Moody's Investors Service said it assigned a B3 corporate family rating to JFB Firth Rixson Inc. and a Ba3 rating to its proposed $800 million senior secured credit facilities.

The outlook is stable.

Proceeds of the borrowings will refinance existing debt.

The refinancing being contemplated will occur concurrent with the issuance of $150 million holding company payment-in-kind notes with proceeds down streamed to the borrowing group, Moody's said.

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