Moody's affirms Pike's B2 CFR following debt recapitalization, assigns B1 rating to 1st lien facilities and Caa1 to 2nd lien term loan
Approximately $720 million of rated debt affected. New York, February 21, 2017-- Moody's Investors Service, affirmed the existing ratings of Pike Corporation, including its B2 Corporate Family Rating and B2-PD Probability of Default Rating. In addition, Moody's assigned B1 ratings to the company's proposed $590 million 1st lien credit facilities, which includes a $100 million revolver and a $490 million term loan, and Caa1 rating to the proposed $130 million 2nd lien term loan.
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:
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76,000 structured finance obligations
Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.
Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.
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