Moody's rates Associated B3

Moody's Investors Service said it assigned ratings to Carey Acquisition Corp., becoming Associated Materials, LLC upon closing of the acquisition: corporate family rating at B3; probability of default rating at B3; and senior secured notes at B3.

The outlook is stable.

The purpose of the notes and other credit facilities is to fund the acquisition of Associated by affiliates of Hellman & Friedman LLC for an aggregate purchase price of about $1.3 billion, including the refinancing of existing debt, the agency said.

In a related action, Moody's said it confirmed the ratings of AMH Holdings, LLC: corporate family rating at B3; probability of default rating at B3; and senior unsecured notes due 2014 at Caa2.

Moody's added that it also confirmed Associated Materials, LLC's existing second-lien senior secured notes due 2016 at B1.

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