Moody's rates Belden notes Ba2

Moody's Investors Service said it assigned Ba2 ratings to Belden Inc.'s proposed euro issue subordinated notes and affirmed its Ba1 corporate family rating and Baa2 senior secured rating.

The new notes will be used to repay secured revolver outstandings and for general corporate purposes.

The outlook remains stable, however, the recent acquisition related increase in debt levels, and in particular the increase in non-prepayable debt, significantly reduces the company's flexibility within the Ba1 corporate family rating heightening the risk of downgrade if revenue, EBITDA and free cash flow do not improve, Moody's said.

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