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Moody's assigns Arby's loans B3
Moody's Investors Service said it assigned a B3 rating to ARG IH Corp.'s (Arby's) proposed $335 million guaranteed senior secured term loan and $35 million guaranteed senior secured revolver.
In addition, the agency assigned Arby's a B3 corporate family rating and B3-PD probability of default rating.
The outlook is stable.
Proceeds from the proposed financing along with about $46 million of cash will be used to fund a special dividend to shareholders of about $370 million.
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