Moody's: Tradesmen ratings unchanged despite increased interest expense and larger 1st lien debt amount
New York, February 10, 2017-- Moody's Investors Service said Tribe Buyer LLC's higher interest expense is a negative credit development, while the plan to increase the amount of its planned senior secured 1st lien term loan due 2024 by $25 million to $255 million from $230 million and reduce the size of its announced senior secured 2nd lien term loan due 2025 to $55 million from $80 million will result in a lowering of the Loss Given Default Assessment on the 2nd lien to LGD6 from LGD5.
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