Moody’s gives Rain Carbon notes B1

Moody's Investors Service said it assigned Rain Carbon Inc. a corporate family rating of B1 and probability of default rating of B1-PD.

The agency also assigned a B1 rating to the company's proposed senior unsecured notes due 2025, the proceeds of which will be used to repay the existing senior secured notes of Rain CII Carbon LLC, which is an indirect wholly owned subsidiary of Rain Carbon.

The outlook is stable.

Upon completion of the refinancing, Moody's will withdraw all current ratings of Rain CII Carbon, including its B3 corporate family rating, B3-PD probability of default rating and the B3 rating on senior secured notes.

Moody’s said the B1 corporate family rating reflects the company's position as one of the leading global producers of carbon-based and chemical products, which form key raw materials for a broad range of industries.

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