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Moody’s gives CP Atlas repriced loan B2
Moody’s Investors Service said it assigned a B2 rating to CP Atlas Buyer, Inc.’s repriced $1.2 billion senior secured first-lien term loan.
“The transaction is credit positive because, if successful, it would reduce the company’s interest cost by approximately $12 million and enhance its ability to generate free cash flow,” Moody’s said in a press release.
The B2 rating on the existing senior secured first-lien term loan will be withdrawn at the transaction’s close.
The company’s B3 corporate family rating, B3-PD probability of default rating, B2 senior secured first-lien revolving credit facility rating, Caa2 senior unsecured notes rating and stable outlook remain unchanged.
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