Moody’s assigns Teleflex notes Ba3

Moody’s Investors Service said it assigned a Ba3 rating to Teleflex Inc.’s proposed $500 million of senior unsecured note offering due 2028.

Teleflex will use the proceeds to repay borrowings under its $1 billion revolving credit facility and to cover transaction-related fees. As of March 29, the company had $785 million outstanding on the revolver.

“While leverage-neutral, Moody’s views the transaction as a credit positive, as it will increase availability under the company’s revolving credit facility and lengthen the company’s debt maturity profile,” the agency said in a press release.

There are no changes to Teleflex’s ratings, and the outlook remains stable, Moody’s said.

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