Moody's rates Meritor loans Ba2

Moody's Investors Service said it assigned a Ba2 rating to Meritor, Inc.'s new $529 million senior secured bank credit facilities.

In a related action, Moody's affirmed Meritor's corporate family rating at B2, along with other ratings.

The outlook remains stable.

The amended senior secured $429 million revolving credit facility will replace the company's existing revolving credit facility and push out roughly $415 million of maturities to 2017 from 2014, subject to certain conditions.

The new senior secured term loan will provide additional liquidity to the company's balance sheet, Moody's said.

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