Moody’s rates Anchor loans B2

Moody’s Ratings said it assigned B2 ratings to Anchor Packaging LLC’s amended & extended backed senior secured first-lien bank credit facility, comprised of a revolving credit facility and term loan. The transaction extends the loans to 2029 from 2026.

The B2 ratings on the outstanding backed senior secured first-lien bank credit facility, including the revolving credit facility, term loan, and delayed-draw term loan, have been reviewed by the rating committee and remain unchanged, the agency said. Moody’s also affirmed Anchor’s B2 corporate family and B2-PD probability of default ratings.

Anchor Packaging plans to use excess proceeds to fund a $206 million dividend distribution to shareholders including majority-owner TJC, LP and minority-owner Hermann Cos.

The outlook is maintained at stable.

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