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Moody's rates Delphi loans Baa2
Moody's Investors Service said it assigned a Baa2 rating to Delphi Corp.'s new senior secured bank credit facilities.
Delphi Corp. is the U.S.-based subsidiary of Delphi Automotive, plc. Delphi is the ultimate parent company guarantor of Delphi Corp.'s rated debt.
In a related action, Moody's affirmed Delphi Corp.'s Ba1 corporate family rating, Ba1-PD probability of default rating and the Ba1 rating of the senior unsecured notes
The speculative grade liquidity rating was affirmed at SGL-2.
The outlook is stable.
Moody's said the assigned ratings on the amended and extended bank credit facility follows Delphi Corp.'s $800 million note issuance in February 2013.
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