Moody’s rates Hanesbrands facilities Baa3

Moody's Investors Service said it assigned Baa3 ratings to Hanesbrands, Inc.'s proposed $2.25 billion secured credit facilities that will consist of a $1 billion revolver, $750 million term loan-A and a $500 million term loan B.

At the same time, the agency affirmed the company's its Ba1 corporate family rating, Ba1-PD probability of default rating, Baa3 on its secured credit facilities, Ba2 on its unsecured notes and SGL-2 speculative grade liquidity rating.

Moody's also affirmed HBI Australia Acquisition Co. Pty. Ltd.'s Baa2 secured debt ratings, and Hanesbrands Finance Luxembourg SCA's Ba1 unsecured notes.

The outlook remains stable.

Proceeds from the proposed credit facilities will be used to refinance debt under Hanesbrands' existing U.S. credit facilities, and for working capital and general corporate purposes.

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