Moody’s: Trinseo facilities Ba3, notes B3

Moody's Investors Service said it affirmed all of Trinseo SA's existing ratings, including the B1 corporate family rating, and assigned Ba3 ratings to its new guaranteed senior secured first-lien term loan and revolving credit facility and a B3 rating to its guaranteed senior unsecured notes to be issued by Trinseo Materials Operating SCA (TMO) and Trinseo Materials Finance, Inc. (TMF).

Both TMO and TMF are wholly owned subsidiaries of Trinseo.

Proceeds from the transaction will be used to refinance the current outstanding credit facilities and notes.

The agency also affirmed Trinseo's speculative grade liquidity rating of SGL-1 and maintained the stable outlook.

"Trinseo is taking advantage of low rates to reduce its cost of debt and extend maturities," John Rogers, Moody’s senior vice president and lead analyst on Trinseo, said in a news release.

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