Moody's assigns Ca to TriMark

Moody's Investors Service said it assigned a Ca rating to TMK Hawk Parent Corp.'s (TriMark) $20 million super-priority tranche C term loan that matures in November 2024.

All other ratings are unchanged including the Caa3 corporate family rating, B3 rating of the tranche A first-out term loan, the Caa3 rating of the tranche B second-out term loan, and the C rating on the senior secured second-lien term loan, Moody’s said.

“The Ca rating of the company's $20 million tranche C super priority term loan, one notch below the Caa3 CFR, reflects the term loan's pari passu lien but subordinated position with respect to collateral proceeds behind the ABL and super-priority first out (tranche A) and second out (tranche B) term loans in the company's capital structure. The tranche C priority term loan has a priority lien on the collateral relative to the second lien term loan,” the agency said in a press release.

The outlook is negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.