Moody’s assigns Tensar loans B2 & Caa2

Moody's Investors Service said it assigned a B3 corporate family rating and a B3-PD probability of default rating to Tensar Corp.

In the same rating action, the agency assigned B2 ratings to the proposed $30 million first-lien revolving credit facility, $230 million first-lien term loan and a Caa2 rating to the proposed $85 million second-lien credit facility.

The outlook is stable.

Proceeds, along with equity contributed by an affiliate of Castle Harlan, Inc., will be used for the acquisition of Tensar.

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