Moody’s assigns Heubach loan Caa2

Moody's Investors Service said it assigned a Caa2 rating to the $70 million backed senior secured term loan raised by SK Neptune Husky Finance Sarl and co-borrowed by Heubach Holdings USA LLC, which matures on April 30.

With certain lenders’ approval, Heubach has the option for three one-month extensions.

“The rating on the new backed senior secured term loan B is in line with SK Neptune Husky Intermediate IV Sarl's (Heubach or the company) long-term corporate family rating (CFR) which is unaffected at Caa2,” Moody’s said in a press release.

The new loan will be used to alleviate immediate liquidity concerns.

The outlook is negative.

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