Moody's assigns Suncoke notes B1

Moody's Investors Service said it assigned a B1 rating to SunCoke Energy, Inc.'s new $500 million of senior secured notes due 2029.

At the same time, Moody's affirmed SunCoke's B1corporate family rating and B1-PD probability of default rating. The speculative grade liquidity rating remains SGL-2.

The proceeds and additional revolver borrowings will be used to refinance the $587 million of 7½% senior unsecured notes of SunCoke Energy Partners, LP due 2025 and to pay the related call premium, transaction fees and expenses. The rating of the 7½ unsecured notes will be withdrawn after the close of the transaction.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.