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Moody's rates Brand Energy notes Caa1
Moody's Investors Service said it assigned a Caa1 rating to Bullseye MergerSub, Inc. (Brand Energy & Infrastructure Services, Inc.) proposed $550 million senior unsecured notes.
All existing ratings, including the company's B2 corporate family rating and B2-PD probability of default rating, were affirmed.
The outlook remains stable.
The proceeds from the proposed $550 million unsecured notes, along with a $1,225,000,000 term loan and $775 million of equity, will be used to acquire Brand Energy and Harsco's infrastructure segment by Clayton, Dubilier & Rice.
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