Moody’s rates Twin River loans Ba2, notes B3

Moody's Investors Service said it assigned ratings to Twin River Worldwide Holdings, Inc., the parent company of Twin River Management, Group, Inc.

The new ratings include a B1 corporate family rating, B1-PD probability of default rating, a Ba2 rating to the company's proposed $600 million credit facility comprised of a $250 million revolver and $350 million term loan B, and a B3 to the company's proposed $350 million senior notes.

“TRWH's B1 corporate family rating considers the company's relatively low pro forma and our projected debt/EBITDA for the company to continue at less than 4.0 times, along with the expectation that TRWH will continue to make it a priority to maintain these relatively strong metrics in anticipation of increased gaming supply in nearby Massachusetts,” Keith Foley, senior vice president at Moody's, said in a news release.

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