Moody’s assigns B2 to Koks notes

Moody’s Investors Service said it assigned a B2 senior unsecured rating to the proposed loan participation notes to be issued by IMH Capital DAC, a designated activity company incorporated under the laws of Ireland, to provide a loan to Koks.

Koks intends to use the loan proceeds for refinancing indebtedness, including but not limited to the purchase and early redemption of loan participation notes due 2022 and issued by Koks Finance DAC.

Noteholders will be relying solely on Koks’ credit quality to repay the debt. The loan will be guaranteed by Koks’ principal operating subsidiaries.

Moody’s also assigned a stable outlook to IMH Capital in line with Koks’ outlook.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.