Moody’s gives Chromaflo add-on loans B2

Moody's Investors Service said it assigned B2 ratings to the proposed add-on first-lien senior secured term loans issued by ASP Chromaflo Intermediate Holdings, Inc. and ASP Chromaflo Dutch I BV.

The expected issuance proceeds of $60 million will be used to repay a portion of its existing second-lien senior secured term loan, and for transaction fees and expenses.

“Chromaflo's issuance of additional first-lien term loans to refinance a portion of its existing second-lien term loan will be net debt neutral and modestly reduce interest expense,” the agency said in a news release.

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