Moody's rates Triumph notes Ba3

Moody's Investors Service said it assigned Triumph Group, Inc. Ba2 corporate family and probability-of-default ratings, and a Ba3 rating (LGD4, 67%) to its proposed $175 million eight-year senior subordinated notes to be issued under Rule 144A.

The agency assigned a speculative grade liquidity rating of SGL-1.

The outlook is stable.

Proceeds will be used to repay the outstanding borrowings on the company's revolving credit facility with the balance used for general corporate purposes.

The Ba2 corporate family rating is supported by Triumph's very good liquidity profile and a track record of strong and improving operating performance with substantial free cash flow generation, according to the agency.

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