Moody's: EveryWare loan B3

Moody's Investors Service said it assigned a B3 rating to the proposed senior secured term loan of EveryWare, Inc., the newly formed holding company of Anchor Hocking, LLC and Oneida, Ltd.

Moody's also assigned EveryWare B2 corporate family and probability of default ratings.

The outlook is stable.

Proceeds from the proposed $150 million senior secured term loan and $40 million of drawings under the proposed $75 million asset based revolver will be used to repay substantially all of Anchor's and Oneida's existing debt and to pay a $16 million distribution to the company's shareholders.

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