Moody’s rates Franklin Energy loans B1, Caa1

Moody’s Investors Service said it assigned first-time ratings to Franklin Energy, including a B2 corporate family rating and a B2-PD probability of default rating, along with B1 and Caa1 ratings for the company's proposed senior secured first- and second-lien bank credit facilities, respectively.

“Franklin is small and competes in a highly competitive industry, but its vertically integrated status and investments in software are key differentiators that should allow it to continue to outpace the growth of the overall market,” said Harold Steiner, Moody's lead analyst for the company, in a news release.

The outlook is stable.

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