Moody’s assigns Williams Scotsman notes B3

Moody’s Investors Service said it assigned a B3 rating to the planned issuance of $650 million in new Williams Scotsman International Inc. senior secured notes maturing 2025.

The B3 rating assigned to the new notes were placed on review for upgrade in line with the other ratings for Williams Scotsman, the agency said.

The company plans to merge with Mobile Mini, Inc.

The proceeds with draws on its new $2.4 billion revolving credit facility, will be used to repay all borrowings under its asset-based lending facility and Mobile Mini’s ABL facility, repay all of Mobile Mini’s outstanding senior notes, and repay all of Williams Scotsman’s senior secured notes due 2022.

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