Moody's assigns Thermon, notes B1

Moody's Investors Service said it assigned a B1 corporate family rating to Thermon Holdings Corp. and a B1 rating to its $200 million senior secured notes due 2017.

This is Moody's initial rating of Thermon.

The ratings are assigned in connection with the acquisition of Thermon by a sponsor group led by the private equity firm Code Hennessey and Simmons LLC for about $310 million, the agency said.

The B1 corporate family rating reflects Thermon's operational and geographic diversity, stability of its customer base, its strong number two position in the heat tracing industry, and good liquidity, Moody's said.

© 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.