Moody’s rates Superior loans Ba2, Ba3

Moody’s Investors Service said it assigned a Ba2 rating to Superior Industries International Inc.’s new $60 million revolving credit facility due 2027 and a Ba3 senior secured rating to its new $400 million term loan due 2028.

Concurrently, the agency affirmed Superior’s B2 corporate family rating, B2-PD probability of default rating and Caa1 senior unsecured rating. The speculative grade liquidity rating is unchanged at SGL-3.

“The Ba2 rating on the revolving credit facility reflects a super-priority first lien on all assets while the Ba3 rating on the term loan reflects its first-lien claim on all assets behind the revolving facility,” Moody’s said in a press release. The agency withdrew the Ba3 ratings on Superior’s previous revolver and term loan.

The outlook is stable.

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