Moody's: CPM loans Ba3, Caa1

Moody's Investors Service said it assigned Ba3 ratings to CPM Holdings, Inc.'s proposed first-lien credit facilities and Caa1 ratings to the proposed second-lien credit facilities.

Moody's also affirmed the company's B2 corporate family and probability of default ratings and revised the outlook to stable from positive.

Proceeds from the new bank facilities are expected to be used to refinance existing debt and pay a dividend to CPM's private equity sponsor Gilbert Global Equity.

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