Moody's assigns B3 to DXP Enterprises' term loan; B2 CFR
Rating Action: Moody's assigns B3 to DXP Enterprises' term loan; B2 CFR. Global Credit Research- 02 Aug 2017. New York, August 02, 2017-- Moody's Investors Service, assigned first time ratings to DXP Enterprises, Inc., including a B2 Corporate Family Rating and a B3 rating to its proposed term loan due 2023. Moody's also assigned an SGL-2 Speculative Grade Liquidity Rating.DXP Enterprises is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to energy and industrial customers. The company's segments include: Service Centers, which is engaged in providing MRO products, equipment and integrated services, including technical services and logistics capabilities, to energy and industrial customers with the ability to provide same day delivery; Supply Chain Services, which manages all or part of its customers' supply chains including procurement and inventory management; and Innovative Pumping Solutions, which provides custom pump skid packages, pump remanufacturing and manufactures branded private label pumps.
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