Moody's assigns Ba2 to THOR loans

Moody's Investors Service said it assigned a Ba2 rating to Thor Industries, Inc.'s new senior secured term loans.

All other ratings, including the Ba2 corporate family rating and the B1 senior unsecured rating, are unchanged, the agency said.

The loans will be used to refinance term loan debt.

“This is effectively a leverage-neutral transaction, although a modest amount of cash will be added to the balance sheet. Ratings on the existing senior secured term loans will be withdrawn upon close,” Moody’s said in a press release.

The outlook is stable.

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