Moody's rates IPC loans B1

Moody's Investors Service said it assigned a B1 rating to IPC Systems, Inc.'s roughly $230 million of new first lien-term loans and affirmed IPC's B3 corporate family and probability of default ratings and the B1 and Caa2 ratings for the company's first- and second-lien credit facilities, respectively.

Moody's also assigned a B1 rating to IPC's $20 million of revolving credit facility the maturity date for which was extended to May 2017, effective May 7, 2012.

The outlook is stable.

IPC will use the net proceeds of the Tranche C term loans to refinance the portion of existing first-lien term loans maturing in 2014, which were not extended as part of the amend and extend offer in March 2012.

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