Moody's rates EaglePicher loans B3, Caa1

Moody's Investors Service said it assigned a B3 corporate family rating to EaglePicher Corp. It also assigned a B3 rating to the company's first-lien senior secured exit credit facility due 2010, consisting of a $70 million revolving credit facility and $160 million term loan facility, and a Caa1 rating to its $65 million second-lien senior secured exit term loan due 2011. The $50 million third-lien senior secured exit term loan due 2011 is not rated by Moody's.

The outlook is stable.

Proceeds from the credit facilities will finance the company's emergence from Chapter 11 bankruptcy protection. This is the first time the agency has rated the capital structure proposed for the reorganized company.

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