Moody's rates Viskase loan B2

Moody's Investors Service said it assigned a B2 rating to the proposed $275 million senior secured term loan B of Viskase Cos., Inc.

The company's B2 corporate family and B2-PD probability of default ratings were affirmed and the outlook is stable.

Proceeds from the new term loan B due 2021 will be used to refinance the existing $215 million senior secured notes due Jan. 15, 2018, to repay the revolving credit facility and to fund general corporate purposes.

Moody's said the B2 corporate family rating reflects the company's lack of scale, concentration of sales, and lack of long-term contracts with customers. It also reflects the nascent competitive equilibrium, foreign currency exposure and primarily commoditized product line, the agency said.

© 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.