Moody's says Neovia's exchange offering is credit positive; ratings unaffected (Caa2 CFR, negative outlook)
New York, January 11, 2017-- Moody's Investors Service said, on January 10, 2017, Neovia Logistics Intermediate Holdings, LP launched a tender and exchange offer for its $117 million senior unsecured Holdco notes due 2018. The notes are expected to be exchanged for a combination of cash, new Holdco notes and accrued interest paid in PIK. Pro forma for the transaction, the new Holdco notes are expected to have a notional amount of $69 million and will mature in 2020. Moody's views the...
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:
- 130 countries
11,000 corporate issuers
21,000 public finance issuers
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.