Moody’s rates Triumph Group notes B3

Moody’s Investors Service said it assigned a B3 rating to Triumph Group, Inc.’s second-lien notes due 2024.

Proceeds will be used to pay off Triumph's senior unsecured notes due 2021 and cut borrowings on the revolving credit facility.

The agency also affirmed its other ratings, including the Caa1 corporate family, the Caa1-PD probability of default and the Caa2 senior unsecured ratings.

The outlook is stable.

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