Moody's rates Tronox notes B1

Moody's Investors Service said it assigned a B1 rating to Tronox Ltd.'s proposed senior unsecured notes due 2020.

Tronox's Ba3 corporate family rating and the Ba2 rating on the term loan were affirmed.

The outlook is stable.

Moody's assigned a SGL-1 speculative grade liquidity rating reflecting the very good liquidity position of Tronox.

The proceeds from the notes will be used to fund roughly $400 million of share repurchases and for general corporate purposes, the agency said.

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