Moody's assigns Caa2 rating to New Enterprise Stone & Lime Co., Inc.'s proposed senior unsecured notes
New York, March 06, 2017-- Moody's Investors Service assigned a Caa2 rating to New Enterprise Stone& Lime Co., Inc.' s proposed $200 million of senior unsecured notes due 2022. At the same time, the Corporate Family Rating was affirmed at B3, the Probability of Default Rating at B3-PD, and the senior unsecured notes, which will be withdrawn upon repayment, at Caa2. The Speculative Grade Liquidity assessment was also affirmed at SGL-3. The rating outlook is stable.
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