Moody's rates EnergySolutions loans Ba3

Moody's Investors Service said it assigned a Ba2 rating (LGD3, 38%) to the first-lien senior secured credit facility of EnergySolutions, LLC.

The agency assigned Ba3 corporate family and the probability-of-default ratings. Moody's also assigned a speculative grade liquidity rating of SGL-2.

The outlook is stable.

The Ba3 rating reflects Moody's belief that "EnergySolutions' formidable market position in its nuclear waste services markets and the recurring revenue nature of the contracted customer base should sustain funds from operations at levels that comfortably cover its debt service obligations beyond the intermediate term," Jonathan Root, Moody's analyst, said in a written statement.

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