Moody's cuts Arysta loan to B1, rates loan B1

Moody's Investors Service said it assigned a B2 corporate family rating and the B2-PD probability of default rating to Arysta LifeScience SPC, LLC.

The agency also assigned a B1 rating to the proposed $175 million incremental term loan due 2020, which increases the total principal size of the first-lien term loan to $1,325,000,000.

Proceeds from the incremental term loan are expected to be used for general corporate purposes and to support acquisitions.

As a result of the additional debt, instrument ratings on the $150 million revolving credit facility due 2018 and first-lien term loan due 2020 were downgraded to B1.

The rating Caa1 rating on the $490 million 71/2-year second-lien term loan due 2020 was affirmed.

Moody's also assigned a speculative grade liquidity assessment of SGL-2.

The outlook is stable.

As a result of a corporate reorganization, the corporate family rating, probability of default rating and speculative grade liquidity assessment at Arysta LifeScience Corp. were withdrawn.

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