Moody's affirms Penn Products

Moody's Investors Service said it affirmed the Ba2 senior secured rating on Penn Products Terminals, LLC following its plan to upsize its senior secured term loan to $600 million from $575 million and revolving credit facility to $150 million from $125 million.

The agency views the change as modestly negative to the company’s credit profile but said it is not material enough to impact the Ba2 rating. The outlook is stable.

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