Moody's Assigns B1 rating to Equinox's new 1st lien credit facilities; Caa1 to 2nd lien facility
New York, February 22, 2017-- Moody's Investors Service, has assigned a B1 Rating to Equinox Holdings Inc.' s proposed first lien senior secured credit facilities, comprising a $150 million revolver due 2022 and an $800 million term loan due 2024. Moody's has also assigned a Caa1 rating to Equinox's proposed $200 million second lien term loan due 2025. Proceeds from the new term loans will be used to refinance the company's existing first and second lien debt of the same size.
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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