Moody's rates Unifrax loans B2

Moody's Investors Service said it assigned a B2 corporate family rating to Unifrax Corp. and B2 ratings to its $50 million revolving credit facility and $180 million term loan B. The outlook is stable.

The ratings were assigned in connection with the upcoming purchase of Unifrax by AEA Investors LLC, which will be funded with the aforementioned rated debt, $135 million of senior subordinated mezzanine notes and equity.

Moody's said the key rating factors currently influencing Unifrax's ratings are its modest size, weak financial strength, high level of post-buyout debt and narrow product line.

The ratings are supported, however, by the company's operational and geographic diversity, the agency said.

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