Moody's assigns B2 to ProFrac loan

Moody's Investors Service said it assigned a B2 rating to ProFrac Holdings II, LLC's $150 million delayed-draw term B loan.

ProFrac's other ratings, including the B2 corporate family rating and B2 ratings of the existing senior secured term loans.

ProFrac drew $80 million early this month, bringing the total outstanding term loans to $599 million. The company can draw the remaining $70 million until the end of 2023.

The outlook is stable.

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