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Moody’s rates Phinia notes Ba1
Moody’s Ratings said it assigned a Ba1 rating to Phinia Inc.’s new senior secured notes.
The Ba1 corporate family rating, the Ba1-PD probability of default rating and the Ba1 senior secured ratings on the term loan A, term loan B and revolver are unchanged, the agency said.
The company plans to use the proceeds to repay the outstanding senior secured term loan B in a largely debt-neutral transaction.
The outlook is stable.
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