Moody's assigns Hillman Group loan B2

Moody's Investors Service said it assigned B2 ratings to Hillman Group's proposed $275 million senior secured credit facility, which includes a $40 million revolver and $235 million term loan and affirmed Hillman Cos. with a B2 corporate family rating.

The outlook is stable.

The agency added that Hillman's ratings are constrained by its high adjusted leverage, modest size in a heavily fragmented industry, integration risks associated with The SteelWorks asset acquisition and low tangible asset coverage.

The company's ratings are supported by its leading market share in fasteners and keys/key accessories, stable industry demand, good operating margins and the company's extensive distribution network, Moody's said it said it said it said it said it said it said it said it said it said it said it said it said it said it said it added.

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