Moody’s rates Flavors loans B2, Caa1

Moody's Investors Service said it assigned a B2 corporate family rating to Flavors Holdings Inc., the holding company for operating subsidiaries Mafco Worldwide Corp. and Merisant Co., which will be acquired as part of the transaction.

The agency also assigned a B2 rating to the company's new $50 million senior secured first-lien revolving credit facility expiring in 2019, a B2 rating to the company's new $365 million senior secured first-lien term loan maturing in 2020 and a Caa1 rating to the company's new $75 million senior secured second-lien term loan maturing in 2021.

The outlook is stable.

Proceeds are being used to finance Flavors Holdings' acquisition of Merisant and refinance outstanding debt obligations at Mafco.

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