Moody’s rates Catalent Pharma loan Ba2

Moody's Investors Service said it assigned a Ba2 rating to Catalent Pharma Solutions, Inc.’s planned $500 million incremental senior secured first-lien term loan due 2028.

There are no changes to Catalent's other ratings including the B1 corporate family rating, B1-PD probability of default rating, Ba2 rating to senior secured revolving credit facility, senior secured term loan and B3 rating to senior unsecured notes, the agency said. The speculative grade liquidity rating of SGL-2 remains unchanged.

Catalent will use the loan to repay the amount outstanding on Catalent's revolving credit facility.

“The new term loan will bolster Catalent's liquidity as it reduces the drawn balance on its $1.1 billion revolving credit facility,” Moody’s said in a press release.

The outlook is stable.

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