Moody's: United Distribution loans B2, Caa2

Moody's Investors Service said it assigned B3 corporate family and probability of default ratings to the United Distribution Group.

In addition, Moody's assigned a B2 rating to the company's anticipated $335 million senior secured first-lien credit facility, which includes a $50 million revolving credit facility and a $285 million first-lien term loan, and a Caa2 rating to the anticipated $100 million senior secured second-lien term loan.

The outlook is stable.

The proceeds from the credit facility and term loans will be used to complete the acquisition of GHX Holdings LLC, to fund future growth initiatives, refinance United Central Industrial Supply Co. LLC existing credit facility debt and for general corporate purposes.

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