Moody’s gives Rain Carbon notes B3

Moody’s Investors Service said it gave a B3 rating to Rain Carbon Inc.'s planned $450 million of second-lien senior secured notes due 2029. All other ratings remain unchanged.

The proceeds and cash on hand will be used to refinance $480 million of RCI's $530 million of second-lien senior secured notes and to pay for related transaction fees and expenses. The company plans to repay the remaining $50 million second-lien notes stub over the next 12 months.

The outlook is stable.

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