Moody's gives Chart, loan B1, notes B3

Moody's Investors Service said it assigned the following new ratings to Chart Industries Inc. with a stable outlook: B1 for the proposed $60 million senior secured revolving credit facility due 2010, B1 for the proposed $180 million senior secured term loan B due 2012, B3 for the proposed $170 million senior subordinated notes due 2015, B1 corporate family rating and SGL- 2 speculative-grade liquidity rating.

The agency said the ratings reflect Chart's significant debt leverage, considerable customer concentration, cyclicality in its end-markets and substantial operational challenges in its post-reorganization operations.

At the same time, the ratings are supported by the company's good niche market position, favorable end-market conditions, improving financial performance benefiting from a number of restructuring and cost-cutting initiatives and good revenue visibility through substantial backlog, the agency added.

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