Moody’s: HC2 unchanged after tack-on

Moody's Investors Service said HC2 Holdings Inc.’s proposed $45 million tack-on to its existing $307 million senior secured notes is credit negative.

A portion of the proceeds from the offering will be used to modestly enhance the company's liquidity position, Moody’s said, but the debt issuance also will raise its already elevated financial leverage and weigh on its other weak credit metrics.

The company's B3 corporate family rating and stable outlook are unchanged.

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