Moody's: Reynolds loans, notes B1

Moody's Investors Service said it assigned B1 ratings to the proposed new senior secured term loans of Reynolds Group Holdings Inc. and the proposed new senior secured notes of co-issuers Reynolds Group Issuer Inc., Reynolds Group Issuer LLC and Reynolds Group Issuer (Luxemburg) SA, subsidiaries of Reynolds Group Holdings Ltd.

The proceeds of the roughly $3.25 billion secured notes due 2020, roughly $2.5 billion of term loans and cash will be used to repay outstanding secured term loans and tender for the $1.125 billion of secured notes due 2016.

All other instrument ratings and the B3 corporate family rating remain unchanged.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.