Moody's rates Thermadyne Holdings notes B2

Moody's Investors Service said it assigned a B2 to Thermadyne Holdings Corp.'s $100 million senior secured notes, which will be used to finance a dividend that will effect the repurchase of preferred stock.

Concurrently, Moody's said it affirmed the B2 corporate family rating on the company and the B2 rating on the company's existing senior secured notes.

The agency said it views the proposed dividend as reflective of a shift to a more aggressive financial policy. However, the agency said Thermadyne's B2 corporate family rating had previously incorporated Moody's view that such a transaction was possible given its ownership by Irving Place Capital.

© 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.