Moody's rates Hexion's new 1.5 lien notes Caa3
New York, January 25, 2017-- Moody's Investors Service assigned a Caa3 rating to Hexion Inc.' s $225 million senior secured notes due 2022. Proceeds from these notes, along with an upsized $485 million of new first lien notes and cash, will be used to refinance the existing senior secured notes due 2018 and pay fees and expenses. The issuance of these notes would prevent the $485 million of first lien notes due 2022 issued by Hexion 2 U.S. Finance Corp from having to be placed in escrow.
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