Moody's says HC2's tack-on offering is credit negative; no ratings impact
New York, January 26, 2017-- Moody's Investors Service said HC2 Holdings Inc. proposed $45 million tack-on to its existing $307 million senior secured notes is credit negative. A portion of the proceeds from the offering will be used to modestly enhance the company's liquidity position, but the debt issuance will also raise its already elevated financial leverage and weigh on its other weak credit metrics. The company's B3 corporate family rating and stable outlook remain...
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