New York, March 30, 2015 -- Moody's Investors Service assigned a first time B2 corporate family rating (CFR) and a B2-PD probability of default rating to Natel Engineering Company, Inc. (Natel) Moody's also assigned a B1, LGD3 rating to the company's $280 million senior secured term loan. The term loan, in conjunction with a $60 million seller note from Charlesbank Capital will be used to fund the roughly $275 million acquisition of OnCore (at about a 7.5 times multiple) and refinance Natel's existing debt. OnCore marks the largest in a series of acquisitions throughout Natel's history and stands to enhance Natel's market position as a leading provider of high-mix, low-to-mid volume assembly services in the electronics manufacturing services ("EMS") industry for customers in the defense, aerospace, industrial, and medical markets. The outlook is stable.

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