Moody's assigns Ba3 to Rain Carbon loan

Moody's Investors Service said it assigned a Ba3 rating to the amended & extended €390 million first-lien senior secured Euro term loan facility due October 2028 of Rain Carbon GmbH, a wholly-owned subsidiary of Rain Carbon Inc.

Concurrently, Moody's affirmed RCI's B2 corporate family rating, the probability of default rating of B2-PD, the Ba3 rating of its $260 million senior secured revolving credit facility due 2027 and the B3 rating of its existing second-lien senior secured notes due 2025.

The proceeds from the planned euro-denominated term loan facility will be used to refinance the existing senior secured euro term facility of Rain Carbon GmbH and to pay for related transaction fees and expenses.

The outlook remains stable.

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