Moody’s: Citgo unchanged

Moody's Investors Service said Citgo Holding, Inc.'s Caa1 corporate family rating and the Caa1 (LGD4) rating assigned to its proposed secured term loan B and secured notes are not affected by the company’s decision to upsize the new term loan B to $1.3 billion from $1 billion. The amount for the secured notes remain unchanged at $1.5 billion. The outlook continues to be stable.

Proceeds will be mostly used to pay dividends to PDVSA (Caa3/stable).

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