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Moody's may up TransWestern Publishing
Moody's Investors Service said it placed all ratings of TransWestern Publishing Inc. on review for possible upgrade.
On review are TransWestern's B1 rated $65 million senior secured first-lien revolving credit facility due 2011 and $525 million senior secured first-lien term loan due 2011, B3 rated $225 million senior secured second-lien term loan due 2012, B1 senior implied rating and Caa1 issuer rating.
This action follows the announcement that TransWestern has signed a definitive agreement with Yell Finance BV, whereby Yell will acquire TransWestern in a transaction valued at $1.58 million.
Moody's said the review will assess the likelihood that the proposed acquisition be endorsed by Yell shareholders, receive regulatory approval and close in accordance with the terms of the agreement.
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