Moody's: Harland Clarke unaffected

Moody's Investors Service said that Harland Clarke Holdings Corp.'s debt rating will not change post the decrease in size of the new senior secured note to $250 million from $295 million and the change in maturity date to 2018 from 2019.

Net proceeds of $235 million after fees and expenses related to the note offering are expected to be used, along with roughly $45 million of cash on the balance sheet, to repay $280 million of the extended term loans.

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