Moody's rates IES Global loan B2

Moody's Investors Service said it assigned IES Global BV a B2 corporate family rating and a B2-PD probability of default rating.

Concurrently, Moody's assigned a B2 rating to IES' first-lien term loan due 2019.

Proceeds will go towards the refinancing of existing debt. The company's ABL revolver and second-lien debt were not rated.

Moody's said the B2 rating on the $270 million term loan, at the corporate family rating level, reflects its first priority status on property plant and equipment in the United States and 65% of the capital stock of the first-tier foreign subsidiaries, as well as the benefits of the $68.5 million of sponsor held second-lien debt.

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