Moody's assigns B1 to Dye & Durham notes

Moody's Ratings said it assigned a B1 rating to Dye & Durham Corp.’s planned backed senior secured notes.

The company's B2 corporate family rating, B2-PD probability of default rating, B1 ratings on its backed senior secured first-lien revolving credit facility and backed senior secured first-lien term loan B and SGL-2 speculative grade liquidity rating remain unchanged, the agency said.

Dye & Durham will use the proceeds and its new secured term loan to repay its existing term loans and convertible debentures due 2026, with the rest going to cash.

The outlook remains stable.

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