Moody’s gives DS Parent loans B2

Moody's Investors Service said it assigned a B2 rating to DS Parent, Inc.'s (Davis-Standard) planned senior secured facilities consisting of a $450 million seven-year term loan B and a $100 million five-year revolving credit facility.

The agency said it also affirmed Davis-Standard's B2 corporate family rating, B2-PD probability of default rating and B2 rating on outstanding senior secured facilities.

Term loan proceeds and cash on hand will be used to refinance the term loan B due in 2028, fund the acquisition of Extrusion Technology Group and pay for transaction expenses. The B2 rating on the outstanding senior secured facilities will be withdrawn upon full redemption.

The outlook remains stable.

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