Moody's rates John Henry loans B1, Caa1

Moody's Investors Service said it affirmed the B2 corporate family and probability of default ratings of John Henry Holdings, Inc., a wholly owned subsidiary of Multi Packaging Solutions, Inc.

The outlook was revised to stable from positive.

Concurrently, Moody's assigned a B1 rating to the company's proposed $360 million first-lien credit facility and a Caa1 rating to the proposed $60 million second-lien credit facility.

Proceeds from the proposed credit facilities will be used to repay existing debt, redeem $173 million of preferred stock and pay a $37 million shareholder dividend.

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